BrightSpire Capital (NYSE:BRSP) Earns Buy Rating from Analysts at Alliance Global Partners

Investment analysts at Alliance Global Partners started coverage on shares of BrightSpire Capital (NYSE:BRSP) in a report released on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $7.25 price target on the stock. Alliance Global Partners’ price target points to a potential upside of 27.75% from the stock’s current price.

A number of other brokerages have also weighed in on BRSP. B. Riley decreased their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.45.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $5.68 on Friday. The business has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $5.88. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $735.93 million, a price-to-earnings ratio of -5.56 and a beta of 1.88. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $7.71.

Hedge Funds Weigh In On BrightSpire Capital

A number of large investors have recently bought and sold shares of BRSP. State of New Jersey Common Pension Fund D bought a new position in shares of BrightSpire Capital in the second quarter worth about $1,844,000. J.W. Cole Advisors Inc. boosted its position in BrightSpire Capital by 139.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 33,511 shares of the company’s stock valued at $191,000 after buying an additional 19,501 shares during the period. Renaissance Technologies LLC grew its stake in BrightSpire Capital by 50.1% in the 2nd quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock worth $1,677,000 after acquiring an additional 98,236 shares in the last quarter. Sei Investments Co. raised its stake in shares of BrightSpire Capital by 14.4% during the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock valued at $204,000 after acquiring an additional 4,500 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of BrightSpire Capital by 5,602.8% in the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock valued at $59,000 after purchasing an additional 10,085 shares during the period. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Company Profile

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.