BrightSpire Capital (NYSE:BRSP) Sets New 12-Month Low – Here’s What Happened

BrightSpire Capital, Inc. (NYSE:BRSP) shares reached a new 52-week low during trading on Friday . The company traded as low as $5.07 and last traded at $5.10, with a volume of 152356 shares changing hands. The stock had previously closed at $5.41.

Analyst Ratings Changes

Several research analysts recently weighed in on BRSP shares. B. Riley cut their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Alliance Global Partners assumed coverage on shares of BrightSpire Capital in a report on Friday, January 17th. They set a “buy” rating and a $7.25 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.69.

BrightSpire Capital Price Performance

The company has a 50 day moving average of $5.86 and a 200 day moving average of $5.86. The stock has a market capitalization of $650.37 million, a price-to-earnings ratio of -4.78 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. The company had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. During the same period in the prior year, the company earned $0.28 EPS. As a group, equities research analysts forecast that BrightSpire Capital, Inc. will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, March 31st. This represents a $0.64 annualized dividend and a dividend yield of 12.76%. BrightSpire Capital’s dividend payout ratio is presently -60.95%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BRSP. Ameriflex Group Inc. purchased a new stake in BrightSpire Capital during the fourth quarter valued at about $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of BrightSpire Capital by 40.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company’s stock worth $1,698,000 after purchasing an additional 87,242 shares during the period. Two Sigma Advisers LP increased its position in BrightSpire Capital by 5.0% during the 4th quarter. Two Sigma Advisers LP now owns 602,000 shares of the company’s stock worth $3,395,000 after purchasing an additional 28,800 shares in the last quarter. Two Sigma Investments LP raised its holdings in BrightSpire Capital by 13.6% in the fourth quarter. Two Sigma Investments LP now owns 536,444 shares of the company’s stock valued at $3,026,000 after buying an additional 64,384 shares during the period. Finally, ProShare Advisors LLC lifted its position in BrightSpire Capital by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 36,380 shares of the company’s stock valued at $205,000 after buying an additional 11,969 shares in the last quarter. 56.57% of the stock is 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.