B. Riley Financial Cuts BrightSpire Capital (NYSE:BRSP) Price Target to $6.50

BrightSpire Capital (NYSE:BRSP) had its price objective reduced by B. Riley Financial from $7.00 to $6.50 in a research note released on Thursday,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. JonesTrading reiterated a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, BrightSpire Capital presently has an average rating of “Hold” and an average target price of $6.50.

BrightSpire Capital Stock Performance

Shares of NYSE BRSP opened at $5.01 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.51. The stock’s fifty day moving average price is $5.46 and its two-hundred day moving average price is $5.68. BrightSpire Capital has a one year low of $4.85 and a one year high of $6.16. The firm has a market cap of $634.50 million, a price-to-earnings ratio of -21.80 and a beta of 1.28.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share 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%. On average, equities analysts forecast that BrightSpire Capital will post 0.51 EPS for the current year.

BrightSpire Capital Dividend Announcement

The business also recently declared 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 dividend yield of 12.8%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -278.26%.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently bought and sold shares of BRSP. Financial Gravity Asset Management Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 1,798 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in BrightSpire Capital in the first quarter valued at approximately $32,000. Axiom Investment Management LLC bought a new position in BrightSpire Capital in the first quarter valued at approximately $33,000. National Bank of Canada FI raised 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 in the last quarter. Finally, KBC Group NV acquired a new position in BrightSpire Capital during the first quarter valued at approximately $48,000. 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.