BrightSpire Capital (NYSE:BRSP) Stock Gets Price Target Cut from Citizens Jmp

BrightSpire Capital (NYSE:BRSP) had its price target trimmed by Citizens Jmp from $7.00 to $6.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other brokerages have also recently weighed in on BRSP. The Goldman Sachs Group upgraded BrightSpire Capital to a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. JonesTrading reaffirmed a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, July 29th. B. Riley Financial cut their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, 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. Six research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

BrightSpire Capital Price Performance

Shares of BRSP opened at $3.83 on Wednesday. The business’s 50-day moving average is $4.51 and its two-hundred day moving average is $5.23. The company has a market capitalization of $483.94 million, a P/E ratio of -16.63, a P/E/G ratio of 2.93 and a beta of 1.31. BrightSpire Capital has a fifty-two week low of $3.72 and a fifty-two week high of $6.16. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83.

BrightSpire Capital (NYSE:BRSP) last issued 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 negative net margin of 20.43% and a positive return on equity of 7.01%. The company had revenue of $48.67 million during the quarter, compared to analyst estimates of $64.31 million. Research analysts predict that BrightSpire Capital will post 0.44 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The firm 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 $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 16.7%. BrightSpire Capital’s dividend payout ratio is presently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. lifted its position in shares of BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after buying an additional 1,798 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in BrightSpire Capital in the 2nd quarter valued at $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in BrightSpire Capital in the 1st quarter worth $32,000. Integrated Wealth Concepts LLC purchased a new stake in BrightSpire Capital in the 2nd quarter worth $31,000. Finally, Axiom Investment Management LLC acquired a new position in BrightSpire Capital during the first quarter worth $33,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing commercial real estate debt and related investments.

Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.

The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.