BrightSpire Capital, Inc. (NYSE:BRSP) Stock Has Average Price Target of $6.00 According to Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has earned an average rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

A number of research analysts have recently weighed in on the company. Weiss Ratings cut BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 4th. Citigroup reaffirmed a “market outperform” rating on shares of BrightSpire Capital in a research note on Wednesday, October 7th. Barclays decreased their price objective on shares of BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Monday, October 5th. The Goldman Sachs Group raised shares of BrightSpire Capital to a “buy” rating in a research note on Wednesday, October 7th. Finally, Zacks Research downgraded shares of BrightSpire Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of BrightSpire Capital by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 693,630 shares of the company’s stock valued at $3,884,000 after acquiring an additional 22,562 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of BrightSpire Capital by 18.8% during the first quarter. Renaissance Technologies LLC now owns 293,300 shares of the company’s stock valued at $1,642,000 after acquiring an additional 46,400 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of BrightSpire Capital by 3.5% during the first quarter. Bank of America Corp DE now owns 217,042 shares of the company’s stock valued at $1,215,000 after acquiring an additional 7,408 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of BrightSpire Capital by 56.8% during the first quarter. Quantinno Capital Management LP now owns 121,032 shares of the company’s stock valued at $678,000 after acquiring an additional 43,851 shares during the last quarter. Finally, Sei Investments Co. increased its position in BrightSpire Capital by 93.9% during the 1st quarter. Sei Investments Co. now owns 82,373 shares of the company’s stock worth $461,000 after purchasing an additional 39,900 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

BrightSpire Capital Stock Performance

BRSP opened at $3.60 on Tuesday. The stock has a market cap of $454.84 million, a P/E ratio of -15.63, a P/E/G ratio of 2.77 and a beta of 1.31. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $5.14. BrightSpire Capital has a 1-year low of $3.56 and a 1-year high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $48.67 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%. As a group, equities analysts anticipate that BrightSpire Capital will post 0.44 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 17.8%. The ex-dividend date of this dividend was Wednesday, September 30th. BrightSpire Capital’s dividend payout ratio is -278.26%.

About BrightSpire Capital

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing commercial real estate debt and related investments.

Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.

The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.