BrightSpire Capital (NYSE:BRSP) Sets New 12-Month Low – Time to Sell?

BrightSpire Capital, Inc. (NYSE:BRSP)’s stock price hit a new 52-week low on Monday. The stock traded as low as $3.98 and last traded at $3.9850, with a volume of 265479 shares traded. The stock had previously closed at $4.09.

Analysts Set New Price Targets

BRSP has been the subject of a number of recent research reports. Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. B. Riley Financial decreased their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings cut shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 4th. Finally, JonesTrading reaffirmed a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.50.

BrightSpire Capital Trading Down 0.6%

The company has a 50 day moving average of $4.78 and a 200 day moving average of $5.35. The firm has a market cap of $514.30 million, a price-to-earnings ratio of -17.67, a price-to-earnings-growth ratio of 2.91 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75.

BrightSpire Capital (NYSE:BRSP) last released 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). BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.The company had revenue of $48.67 million for the quarter, compared to analyst estimates of $64.31 million. As a group, research analysts anticipate that BrightSpire Capital, Inc. will post 0.47 EPS for the current year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 15.7%. The ex-dividend date of this dividend is Wednesday, September 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

Institutional Trading of BrightSpire Capital

Hedge funds have recently modified their holdings of the company. 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 worth $27,000 after acquiring an additional 1,798 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in BrightSpire Capital in the second quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of BrightSpire Capital during the first quarter worth $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of BrightSpire Capital in the second quarter valued at $31,000. Finally, Axiom Investment Management LLC bought a new position in shares of BrightSpire Capital in the first quarter valued at about $33,000. Institutional investors and hedge funds own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.