BrightSpire Capital (NYSE:BRSP) Reaches New 12-Month Low – Should You Sell?

BrightSpire Capital, Inc. (NYSE:BRSP) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.07 and last traded at $5.10, with a volume of 152356 shares. The stock had previously closed at $5.41.

Analyst Ratings Changes

BRSP has been the subject of a number of recent research reports. B. Riley reduced their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Alliance Global Partners initiated coverage on BrightSpire Capital in a report on Friday, January 17th. They issued a “buy” rating and a $7.25 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, BrightSpire Capital presently has an average rating of “Moderate Buy” and a consensus target price of $7.69.

BrightSpire Capital Trading Down 7.7 %

The firm’s 50-day simple moving average is $5.87 and its 200 day simple moving average is $5.87. The stock has a market capitalization of $647.78 million, a P/E ratio of -4.76 and a beta of 1.98. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. The business had revenue of $17.46 million for the quarter, compared to analysts’ expectations of $65.81 million. During the same quarter in the prior year, the firm posted $0.28 EPS. Equities research analysts anticipate that BrightSpire Capital, Inc. will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.64 dividend on an annualized basis and a yield of 12.81%. BrightSpire Capital’s payout ratio is -60.95%.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in BrightSpire Capital by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company’s stock valued at $2,018,000 after acquiring an additional 2,798 shares during the period. Allegiance Financial Group Advisory Services LLC raised its position in BrightSpire Capital by 30.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company’s stock valued at $108,000 after purchasing an additional 4,434 shares during the last quarter. Atria Investments Inc lifted its position in BrightSpire Capital by 18.2% during the 4th quarter. Atria Investments Inc now owns 35,869 shares of the company’s stock worth $202,000 after buying an additional 5,531 shares in the last quarter. Gallagher Fiduciary Advisors LLC lifted its holdings in BrightSpire Capital by 18.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 36,164 shares of the company’s stock worth $204,000 after buying an additional 5,749 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of BrightSpire Capital in the 4th quarter valued at about $37,000. 56.57% of the stock is currently owned by institutional investors.

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.