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

BrightSpire Capital, Inc. (NYSE:BRSP) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $6.60.

Several research analysts have issued reports on the company. Weiss Ratings cut BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Barclays boosted their target price on shares of BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, February 19th. JonesTrading reaffirmed a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, February 18th. Finally, B. Riley Financial began coverage on shares of BrightSpire Capital in a research report on Monday, January 5th. They issued a “buy” rating and a $7.50 price target on the stock.

Institutional Trading of BrightSpire Capital

Several hedge funds have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. lifted its position in shares of BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after buying an additional 1,798 shares in the last quarter. National Bank of Canada FI raised its stake in BrightSpire Capital by 50.0% during the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after acquiring an additional 2,500 shares during the period. Xponance Inc. bought a new stake in BrightSpire Capital during the 3rd quarter worth approximately $55,000. Founders Financial Securities LLC purchased a new position in BrightSpire Capital during the fourth quarter valued at approximately $58,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of BrightSpire Capital by 812.1% in the third quarter. CIBC Private Wealth Group LLC now owns 10,945 shares of the company’s stock worth $59,000 after purchasing an additional 9,745 shares during the period. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

BRSP stock opened at $5.99 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.46 and a quick ratio of 0.46. BrightSpire Capital has a 1 year low of $4.37 and a 1 year high of $6.16. The company has a market cap of $779.73 million, a P/E ratio of -23.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.37. The stock’s fifty day moving average price is $5.72 and its 200-day moving average price is $5.67.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend was Tuesday, March 31st. BrightSpire Capital’s dividend payout ratio (DPR) is currently -246.15%.

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.