BrightSpire Capital (NYSE:BRSP) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a sell rating in a report issued on Monday morning.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. JonesTrading reaffirmed a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Finally, B. Riley Financial dropped their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, July 30th. 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.com, the stock presently has an average rating of “Hold” and an average price target of $6.50.

BrightSpire Capital Trading Down 1.6%

Shares of NYSE:BRSP opened at $4.79 on Monday. BrightSpire Capital has a 52-week low of $4.78 and a 52-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. The company has a market capitalization of $606.03 million, a P/E ratio of -20.83, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. The company has a 50-day simple moving average of $5.22 and a 200 day simple moving average of $5.55.

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 analysts’ consensus estimates 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 business had revenue of $48.70 million during the quarter, compared to analyst estimates of $64.31 million. Sell-side analysts forecast that BrightSpire Capital will post 0.47 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 13.4%. BrightSpire Capital’s payout ratio is -278.26%.

Institutional Trading of BrightSpire Capital

Large investors have recently bought and sold shares of the business. Weiss Asset Management LP bought a new stake in shares of BrightSpire Capital during the first quarter worth $120,000. State of Wyoming bought a new position in shares of BrightSpire Capital in the 1st quarter valued at $65,000. Cassaday & Co Wealth Management LLC bought a new position in shares of BrightSpire Capital in the 1st quarter valued at $32,000. KBC Group NV acquired a new stake in shares of BrightSpire Capital during the 1st quarter valued at $48,000. Finally, Main Street Group LTD acquired a new stake in shares of BrightSpire Capital during the 1st quarter valued at $50,000. 56.57% of the stock is owned by institutional investors and hedge funds.

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.