BrightSpire Capital (NYSE:BRSP) Hits New 12-Month Low – What’s Next?

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.84 and last traded at $4.85, with a volume of 597650 shares trading hands. The stock had previously closed at $5.00.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BRSP. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday, April 22nd. Weiss Ratings cut BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. B. Riley Financial decreased their price target on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wall Street Zen raised BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, JonesTrading restated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $614.25 million, a P/E ratio of -21.11, a P/E/G ratio of 3.56 and a beta of 1.29. The company has a 50 day moving average price of $5.30 and a 200 day moving average price of $5.60.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. The business had revenue of $48.70 million during the quarter, compared to the consensus estimate of $64.31 million. On average, equities analysts predict that BrightSpire Capital, Inc. will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of BrightSpire Capital by 90.1% during the first quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock worth $610,000 after acquiring an additional 51,977 shares during the period. AQR Capital Management LLC bought a new stake in BrightSpire Capital in the 1st quarter valued at $131,000. Goldman Sachs Group Inc. grew its holdings in BrightSpire Capital by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock valued at $11,184,000 after buying an additional 46,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in BrightSpire Capital by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock valued at $1,828,000 after buying an additional 27,713 shares in the last quarter. Finally, Jane Street Group LLC increased its position in BrightSpire Capital by 257.9% during the 1st quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock worth $1,594,000 after buying an additional 206,610 shares during the period. 56.57% of the stock is owned by institutional investors.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.