BrightSpire Capital, Inc. (NYSE:BRSP) Given Consensus Recommendation of “Hold” by Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $6.75.

A number of research firms recently issued reports on BRSP. JonesTrading restated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, June 3rd. Barclays increased their price target on BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, February 19th. Weiss Ratings cut BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd.

BrightSpire Capital Stock Performance

Shares of BrightSpire Capital stock opened at $5.57 on Wednesday. The business has a 50-day simple moving average of $5.77 and a 200-day simple moving average of $5.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $725.01 million, a PE ratio of -20.61 and a beta of 1.28. BrightSpire Capital has a one year low of $4.84 and a one year high of $6.16.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $51.75 million during the quarter, compared to analyst estimates of $63.12 million. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. On average, equities research analysts forecast that BrightSpire Capital will post 0.53 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.16 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.5%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -237.04%.

Hedge Funds Weigh In On BrightSpire Capital

Hedge funds have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. increased its position in BrightSpire Capital by 59.2% during the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock worth $27,000 after buying an additional 1,798 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in BrightSpire Capital during the first quarter worth $32,000. Axiom Investment Management LLC purchased a new stake in BrightSpire Capital during the 1st quarter worth about $33,000. National Bank of Canada FI increased its position in BrightSpire Capital by 50.0% during the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after purchasing an additional 2,500 shares in the last quarter. Finally, KBC Group NV purchased a new stake in BrightSpire Capital during the 1st quarter worth about $48,000. Hedge funds and other institutional investors 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.