BrightSpire Capital (NYSE:BRSP) Upgraded at BTIG Research

BrightSpire Capital (NYSE:BRSP) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $7.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 18.95% from the company’s previous close.

Several other research firms have also issued reports on BRSP. Barclays increased their target price on shares of BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, February 19th. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. JonesTrading reissued a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, February 18th. Finally, B. Riley Financial began coverage on shares of BrightSpire Capital in a research note on Monday, January 5th. They set a “buy” rating and a $7.50 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.70.

BrightSpire Capital Trading Down 1.8%

BRSP stock opened at $5.89 on Wednesday. The company’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $5.67. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.21. BrightSpire Capital has a 52-week low of $4.47 and a 52-week high of $6.16. The firm has a market cap of $766.70 million, a P/E ratio of -22.63, a PEG ratio of 2.23 and a beta of 1.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. lifted its stake in BrightSpire Capital by 59.2% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after buying an additional 1,798 shares in the last quarter. Cerity Partners LLC lifted its stake in BrightSpire Capital by 9.1% in the 4th quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock valued at $167,000 after buying an additional 2,480 shares in the last quarter. National Bank of Canada FI lifted its stake in BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after buying an additional 2,500 shares in the last quarter. M&T Bank Corp lifted its stake in BrightSpire Capital by 22.5% in the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after buying an additional 2,501 shares in the last quarter. Finally, Eight 31 Financial LLC lifted its stake in BrightSpire Capital by 22.6% in the 3rd quarter. Eight 31 Financial LLC now owns 15,200 shares of the company’s stock valued at $83,000 after buying an additional 2,800 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

BrightSpire Capital Company Profile

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.