BrightSpire Capital, Inc. (NYSE:BRSP) Receives Consensus Recommendation of “Hold” from Analysts

BrightSpire Capital, Inc. (NYSE:BRSP) has earned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.75.

Several equities analysts have recently issued reports on BRSP shares. JonesTrading reiterated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, June 3rd. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, April 22nd.

BrightSpire Capital Stock Down 0.3%

Shares of BRSP stock traded down $0.01 during mid-day trading on Friday, reaching $5.42. 3,835,684 shares of the company’s stock traded hands, compared to its average volume of 2,012,459. The company’s 50-day moving average price is $5.68 and its 200-day moving average price is $5.76. The company has a market cap of $706.77 million, a P/E ratio of -20.09 and a beta of 1.28. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. BrightSpire Capital has a 12 month low of $4.84 and a 12 month high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. The business had revenue of $51.75 million for the quarter, compared to analysts’ expectations of $63.12 million. On average, equities analysts expect that BrightSpire Capital will post 0.51 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date of this dividend is Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio is currently -237.04%.

Hedge Funds Weigh In On BrightSpire Capital

Several large investors have recently modified their holdings of BRSP. Private Management Group Inc. boosted its stake in BrightSpire Capital by 0.5% in the 3rd quarter. Private Management Group Inc. now owns 4,843,066 shares of the company’s stock worth $26,298,000 after purchasing an additional 24,572 shares in the last quarter. North Ground Capital raised its holdings in BrightSpire Capital by 21.2% in the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock worth $17,105,000 after buying an additional 534,552 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in BrightSpire Capital by 13.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock worth $15,996,000 after buying an additional 348,931 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of BrightSpire Capital by 13.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company’s stock worth $12,684,000 after buying an additional 284,046 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BrightSpire Capital by 7.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company’s stock worth $12,465,000 after buying an additional 159,705 shares in the last quarter. Hedge funds and other 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.