BrightSpire Capital (NYSE:BRSP) Upgraded by Wall Street Zen to Hold Rating

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

Several other equities research analysts have also commented on the stock. JonesTrading reissued a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 29th. B. Riley Financial decreased their price objective on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightSpire Capital in a research report on Friday, August 21st. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $4.64 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. BrightSpire Capital has a 12-month low of $4.63 and a 12-month high of $6.16. The business’s 50 day moving average is $5.15 and its two-hundred day moving average is $5.52. The company has a market capitalization of $587.05 million, a P/E ratio of -20.17, a P/E/G ratio of 3.38 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 EPS 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 analysts’ expectations of $64.31 million. Analysts expect that BrightSpire Capital will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

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

Institutional Trading of BrightSpire Capital

Several large investors have recently made changes to their positions in the company. Corient Private Wealth LP acquired a new position in BrightSpire Capital in the 2nd quarter valued at $58,000. California State Teachers Retirement System boosted its stake in BrightSpire Capital by 1,043.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,483,583 shares of the company’s stock worth $8,086,000 after purchasing an additional 1,353,818 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in BrightSpire Capital during the 2nd quarter worth $26,000. Bank of New York Mellon Corp purchased a new stake in shares of BrightSpire Capital during the second quarter worth $3,754,000. Finally, Attessa Capital LLC purchased a new stake in shares of BrightSpire Capital during the second quarter worth $79,000. 56.57% of the stock is currently 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.