JonesTrading Reaffirms Buy Rating for BrightSpire Capital (NYSE:BRSP)

BrightSpire Capital (NYSE:BRSP)‘s stock had its “buy” rating restated by investment analysts at JonesTrading in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $6.50 target price on the stock. JonesTrading’s price target would indicate a potential upside of 31.71% from the company’s previous close.

BRSP has been the subject of several other research reports. Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.75.

BrightSpire Capital Trading Down 5.8%

BrightSpire Capital stock traded down $0.30 during mid-day trading on Wednesday, hitting $4.93. The stock had a trading volume of 1,839,968 shares, compared to its average volume of 1,105,424. The stock has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $5.70. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $642.93 million, a PE ratio of -18.39 and a beta of 1.28. BrightSpire Capital has a 12 month low of $4.91 and a 12 month high of $6.16.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%.The firm had revenue of $55.40 million for the quarter, compared to the consensus estimate of $64.31 million. As a group, sell-side analysts forecast that BrightSpire Capital will post 0.51 EPS for the current year.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its position 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 buying an additional 1,798 shares in the last quarter. Cerity Partners LLC lifted its holdings in 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 acquiring an additional 2,480 shares in the last quarter. National Bank of Canada FI lifted its holdings 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 worth $41,000 after acquiring an additional 2,500 shares in the last quarter. M&T Bank Corp grew its stake in BrightSpire Capital by 22.5% in the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after acquiring an additional 2,501 shares during the period. Finally, Abel Hall LLC grew its stake 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 acquiring an additional 3,123 shares during the period. 56.57% of the stock is owned by institutional investors.

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.