Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) PT at $6.79

BrightSpire Capital, Inc. (NYSE:BRSP) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $6.7917.

A number of equities research analysts recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of BrightSpire Capital in a research note on Monday.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $5.61 on Friday. The company has a 50 day moving average of $5.38 and a 200 day moving average of $5.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.81. The stock has a market cap of $727.79 million, a P/E ratio of -18.70 and a beta of 1.58. BrightSpire Capital has a 12 month low of $4.16 and a 12 month high of $6.45.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Wednesday, February 24th. The company reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $37.88 million for the quarter. BrightSpire Capital had a negative net margin of 26.91% and a positive return on equity of 7.51%. As a group, sell-side analysts forecast that BrightSpire Capital will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend was Tuesday, September 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -213.33%.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors have recently made changes to their positions in BRSP. State of New Jersey Common Pension Fund D increased its stake in BrightSpire Capital by 16.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 370,756 shares of the company’s stock valued at $1,872,000 after acquiring an additional 52,056 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of BrightSpire Capital in the 2nd quarter worth about $81,000. Nomura Holdings Inc. bought a new position in shares of BrightSpire Capital during the 1st quarter valued at about $18,085,000. Greenland Capital Management LP increased its position in shares of BrightSpire Capital by 5.0% during the 2nd quarter. Greenland Capital Management LP now owns 1,349,430 shares of the company’s stock valued at $6,815,000 after purchasing an additional 64,430 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of BrightSpire Capital by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 74,753 shares of the company’s stock valued at $416,000 after buying an additional 3,224 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

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.