BrightSpire Capital (NYSE:BRSP) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a sell rating in a research note published on Monday.

Other research analysts also recently issued research reports about the company. JonesTrading reissued a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, July 29th. B. Riley Financial cut their target price on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.50.

BrightSpire Capital Price Performance

NYSE:BRSP opened at $4.91 on Monday. The company has a market cap of $620.58 million, a P/E ratio of -21.33, a P/E/G ratio of 3.49 and a beta of 1.29. The firm’s fifty day moving average price is $5.24 and its two-hundred day moving average price is $5.57. BrightSpire Capital has a one year low of $4.80 and a one year high of $6.16. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. Equities analysts expect that BrightSpire Capital will post 0.47 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 annualized dividend and a yield of 13.0%. BrightSpire Capital’s dividend payout ratio is presently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds have recently added to or reduced their stakes in BRSP. Financial Gravity Asset Management Inc. increased its stake in BrightSpire Capital by 59.2% in 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 during the last quarter. Cerity Partners LLC increased its position in shares of BrightSpire Capital by 9.1% during the fourth quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock valued at $167,000 after acquiring an additional 2,480 shares during the last quarter. National Bank of Canada FI increased its position in shares of BrightSpire Capital by 50.0% during the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after acquiring an additional 2,500 shares during the last quarter. M&T Bank Corp lifted its holdings in BrightSpire Capital by 22.5% during the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after acquiring an additional 2,501 shares during the period. Finally, Abel Hall LLC lifted its holdings in BrightSpire Capital by 7.5% during the fourth quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock worth $249,000 after acquiring an additional 3,123 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

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.