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

BrightSpire Capital, Inc. (NYSE:BRSP) hit a new 52-week low on Wednesday . The company traded as low as $4.80 and last traded at $4.8050, with a volume of 215789 shares traded. The stock had previously closed at $4.87.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightSpire Capital in a research note on Friday, August 21st. B. Riley Financial lowered their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. JonesTrading reaffirmed a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of BrightSpire Capital from a “hold” rating to a “sell” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, BrightSpire Capital presently has a consensus rating of “Hold” and a consensus price target of $6.50.

BrightSpire Capital Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The firm has a 50-day moving average of $5.20 and a 200-day moving average of $5.55. The stock has a market capitalization of $604.13 million, a price-to-earnings ratio of -20.76, a P/E/G ratio of 3.41 and a beta of 1.29.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts predict that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.16 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 13.4%. BrightSpire Capital’s dividend payout ratio is currently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 1,798 shares during the last quarter. Cerity Partners LLC raised its holdings 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 worth $167,000 after purchasing an additional 2,480 shares during the last quarter. National Bank of Canada FI lifted its position in 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 purchasing an additional 2,500 shares during the period. M&T Bank Corp lifted its position in BrightSpire Capital by 22.5% during the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after purchasing an additional 2,501 shares during the period. Finally, Abel Hall LLC boosted its holdings in BrightSpire Capital by 7.5% in the fourth quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock valued at $249,000 after purchasing an additional 3,123 shares during the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

BrightSpire Capital Company Profile

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.