Barclays Cuts BrightSpire Capital (NYSE:BRSP) Price Target to $7.00

BrightSpire Capital (NYSE:BRSP) had its target price cut by Barclays from $8.00 to $7.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Bank of America downgraded BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 target price for the company. in a research report on Monday, March 4th.

BrightSpire Capital Stock Performance

BRSP opened at $6.02 on Thursday. The stock has a market capitalization of $786.45 million, a price-to-earnings ratio of -10.95 and a beta of 1.89. BrightSpire Capital has a fifty-two week low of $5.20 and a fifty-two week high of $8.01. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.55 and a current ratio of 0.48. The company has a fifty day moving average of $6.59 and a 200 day moving average of $6.77.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $27.43 million for the quarter, compared to analysts’ expectations of $28.64 million. BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, sell-side analysts forecast that BrightSpire Capital will post 0.9 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 annualized dividend and a yield of 13.29%. BrightSpire Capital’s dividend payout ratio is currently -145.45%.

Insiders Place Their Bets

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the sale, the insider now directly owns 347,832 shares of the company’s stock, valued at approximately $2,351,344.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC grew its holdings in BrightSpire Capital by 65.3% during the 3rd quarter. AE Wealth Management LLC now owns 34,400 shares of the company’s stock valued at $215,000 after purchasing an additional 13,587 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of BrightSpire Capital during the third quarter valued at approximately $63,000. Commonwealth Equity Services LLC raised its holdings in shares of BrightSpire Capital by 3.0% in the third quarter. Commonwealth Equity Services LLC now owns 105,583 shares of the company’s stock worth $661,000 after buying an additional 3,079 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of BrightSpire Capital by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 441,497 shares of the company’s stock worth $2,764,000 after acquiring an additional 2,296 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BrightSpire Capital by 58.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,206 shares of the company’s stock valued at $164,000 after acquiring an additional 9,630 shares during the period. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.