BTIG Research Upgrades BrightSpire Capital (NYSE:BRSP) to “Buy”

BrightSpire Capital (NYSE:BRSP) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $7.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 18.95% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. JonesTrading reissued a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, February 18th. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. B. Riley Financial started coverage on BrightSpire Capital in a research report on Monday, January 5th. They issued a “buy” rating and a $7.50 target price on the stock. Finally, Barclays upped their target price on BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, February 19th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.70.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $5.89 on Wednesday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.21. The business’s fifty day simple moving average is $5.72 and its 200-day simple moving average is $5.67. BrightSpire Capital has a 12-month low of $4.47 and a 12-month high of $6.16. The company has a market cap of $766.70 million, a PE ratio of -22.63, a PEG ratio of 2.23 and a beta of 1.37.

Institutional Investors Weigh In On BrightSpire Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waterfall Asset Management LLC grew its position in BrightSpire Capital by 225.7% during the 3rd quarter. Waterfall Asset Management LLC now owns 644,158 shares of the company’s stock worth $3,498,000 after purchasing an additional 446,358 shares during the period. North Ground Capital grew its position in BrightSpire Capital by 90.5% during the 3rd quarter. North Ground Capital now owns 2,520,000 shares of the company’s stock worth $13,684,000 after purchasing an additional 1,197,000 shares during the period. Allianz Asset Management GmbH grew its position in BrightSpire Capital by 123.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 206,239 shares of the company’s stock worth $1,120,000 after purchasing an additional 113,876 shares during the period. State of New Jersey Common Pension Fund D grew its position in BrightSpire Capital by 4.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 387,443 shares of the company’s stock worth $2,104,000 after purchasing an additional 16,687 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in BrightSpire Capital by 6.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 279,332 shares of the company’s stock worth $1,517,000 after purchasing an additional 16,915 shares during the period. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

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.