BrightSpire Capital (NYSE:BRSP) Releases Earnings Results

BrightSpire Capital (NYSE:BRSP) released its quarterly earnings data on Tuesday. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02), FiscalAI reports. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%.

BrightSpire Capital Price Performance

Shares of BrightSpire Capital stock traded up $0.01 during trading hours on Tuesday, reaching $5.25. The stock had a trading volume of 1,665,415 shares, compared to its average volume of 1,100,888. The stock’s 50 day moving average is $5.51 and its 200 day moving average is $5.70. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40. BrightSpire Capital has a twelve month low of $4.93 and a twelve month high of $6.16. The firm has a market capitalization of $683.31 million, a PE ratio of -19.43 and a beta of 1.28.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.16 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.2%. BrightSpire Capital’s dividend payout ratio is -237.04%.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of BrightSpire Capital by 90.1% in the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock valued at $610,000 after purchasing an additional 51,977 shares in the last quarter. AQR Capital Management LLC purchased a new position in BrightSpire Capital during the first quarter worth approximately $131,000. Goldman Sachs Group Inc. boosted its position in BrightSpire Capital by 2.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock worth $11,184,000 after purchasing an additional 46,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in BrightSpire Capital by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock valued at $1,828,000 after purchasing an additional 27,713 shares during the period. Finally, Jane Street Group LLC grew its holdings in BrightSpire Capital by 257.9% in the first quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock valued at $1,594,000 after purchasing an additional 206,610 shares during the period. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Wall Street Analyst Weigh In

BRSP has been the topic of several analyst reports. JonesTrading reaffirmed a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, June 3rd. BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.75.

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.