Raymond James Lowers BrightSpire Capital (NYSE:BRSP) to Market Perform

Raymond James lowered shares of BrightSpire Capital (NYSE:BRSP) from an outperform rating to a market perform rating in a research report released on Friday morning, Marketbeat Ratings reports.

Several other analysts also recently weighed in on the stock. Bank of America downgraded shares of BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 price objective on the stock. in a research report on Monday, March 4th. Barclays reduced their price objective on BrightSpire Capital from $8.00 to $7.00 and set an equal weight rating for the company in a research report on Thursday.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $6.02 on Friday. The company has a market cap of $786.45 million, a P/E ratio of -10.95 and a beta of 1.89. The business has a 50 day moving average of $6.59 and a two-hundred day moving average of $6.77. BrightSpire Capital has a 52 week low of $5.20 and a 52 week high of $8.01. The company has a quick ratio of 0.55, a current ratio of 0.48 and a debt-to-equity ratio of 1.63.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. The company had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, analysts anticipate that BrightSpire Capital will post 0.9 EPS for the current year.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s payout ratio is -145.45%.

Insider Activity

In related news, insider David A. Palame sold 50,000 shares of BrightSpire Capital stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the transaction, the insider now owns 347,832 shares of the company’s stock, valued at approximately $2,351,344.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of BrightSpire Capital by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after buying an additional 873,407 shares during the period. Private Management Group Inc. boosted its position in BrightSpire Capital by 1.0% during the 4th quarter. Private Management Group Inc. now owns 4,432,343 shares of the company’s stock worth $32,977,000 after acquiring an additional 45,507 shares during the period. Federated Hermes Inc. grew its stake in BrightSpire Capital by 3.9% during the 4th quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock valued at $11,620,000 after acquiring an additional 59,342 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of BrightSpire Capital by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock valued at $11,086,000 after purchasing an additional 43,415 shares during the period. Finally, Norges Bank purchased a new stake in shares of BrightSpire Capital in the fourth quarter worth approximately $6,726,000. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

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.