BrightSpire Capital (NYSE:BRSP) Stock Rating Reaffirmed by BTIG Research

BTIG Research reissued their neutral rating on shares of BrightSpire Capital (NYSE:BRSP) in a report issued on Friday, MarketBeat Ratings reports.

BRSP has been the topic of several other research reports. Barclays cut their price objective on shares of BrightSpire Capital from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Thursday, May 2nd. Raymond James downgraded shares of BrightSpire Capital from an outperform rating to a market perform rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $7.33.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $6.48 on Friday. The firm has a market cap of $846.52 million, a price-to-earnings ratio of -11.78 and a beta of 1.92. BrightSpire Capital has a 1 year low of $5.20 and a 1 year high of $8.01. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $6.51.

BrightSpire Capital (NYSE:BRSP) last issued its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. The firm had revenue of $27.43 million during the quarter, compared to analyst estimates of $28.64 million. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, sell-side analysts predict that BrightSpire Capital will post 0.79 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.20 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.80 annualized dividend and a yield of 12.35%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -145.45%.

Hedge Funds Weigh In On BrightSpire Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of BrightSpire Capital in the fourth quarter worth $6,726,000. Vanguard Group Inc. lifted its position in BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after acquiring an additional 873,407 shares during the last quarter. Jump Financial LLC bought a new stake in BrightSpire Capital during the fourth quarter valued at about $764,000. PFG Investments LLC acquired a new stake in shares of BrightSpire Capital in the first quarter valued at about $536,000. Finally, Federated Hermes Inc. increased its stake in shares of BrightSpire Capital by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock worth $11,620,000 after purchasing an additional 59,342 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.