BrightSpire Capital (NYSE:BRSP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BrightSpire Capital (NYSE:BRSP) from a sell rating to a hold rating in a research report released on Tuesday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on the company. B. Riley Financial reduced their price objective 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. Weiss Ratings reissued a “sell (d+)” rating on shares of BrightSpire Capital in a report on Friday, August 21st. Finally, JonesTrading restated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, BrightSpire Capital has an average rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Price Performance

BrightSpire Capital stock opened at $4.65 on Tuesday. BrightSpire Capital has a 52 week low of $4.61 and a 52 week high of $6.16. The company’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $5.51. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a market cap of $588.32 million, a P/E ratio of -20.22, a P/E/G ratio of 3.34 and a beta of 1.27.

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

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.64 annualized dividend and a yield of 13.8%. BrightSpire Capital’s dividend payout ratio (DPR) is -278.26%.

Institutional Investors Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of BRSP. California State Teachers Retirement System boosted its holdings in shares of BrightSpire Capital by 1,043.3% in the second quarter. California State Teachers Retirement System now owns 1,483,583 shares of the company’s stock worth $8,086,000 after acquiring an additional 1,353,818 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of BrightSpire Capital during the 2nd quarter valued at $3,754,000. Millennium Management LLC lifted its holdings in BrightSpire Capital by 2,405.4% during the 3rd quarter. Millennium Management LLC now owns 591,441 shares of the company’s stock worth $3,212,000 after purchasing an additional 567,834 shares in the last quarter. North Ground Capital boosted its stake in BrightSpire Capital by 21.2% in the 4th quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock worth $17,105,000 after purchasing an additional 534,552 shares during the period. Finally, Blair William & Co. IL bought a new position in BrightSpire Capital in the 4th quarter worth about $2,075,000. Institutional investors own 56.57% of the company’s stock.

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.