BrightSpire Capital, Inc. (NYSE:BRSP) Receives Consensus Rating of “Hold” from Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.75.

A number of equities research analysts have commented on the company. JonesTrading restated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, June 3rd. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th.

Institutional Trading of BrightSpire Capital

Several hedge funds have recently made changes to their positions in the business. 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 buying an additional 567,834 shares in the last quarter. North Ground Capital raised its stake in shares of BrightSpire Capital by 21.2% in the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock valued at $17,105,000 after acquiring an additional 534,552 shares in the last quarter. Blair William & Co. IL purchased a new position in BrightSpire Capital in the fourth quarter valued at $2,075,000. Goldman Sachs Group Inc. grew its stake in BrightSpire Capital by 13.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock worth $15,996,000 after purchasing an additional 348,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in BrightSpire Capital by 15.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company’s stock worth $12,557,000 after purchasing an additional 305,264 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Trading Up 0.7%

Shares of BRSP stock traded up $0.04 during trading on Friday, hitting $5.36. 1,092,340 shares of the stock traded hands, compared to its average volume of 2,163,370. The firm has a market capitalization of $697.65 million, a P/E ratio of -19.83 and a beta of 1.28. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average price is $5.61 and its 200-day moving average price is $5.74. BrightSpire Capital has a 52-week low of $4.87 and a 52-week high of $6.16.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $51.75 million during the quarter, compared to analyst estimates of $63.12 million. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. As a group, research analysts forecast that BrightSpire Capital will post 0.51 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -237.04%.

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.