B. Riley Financial Has Lowered Expectations for BrightSpire Capital (NYSE:BRSP) Stock Price

BrightSpire Capital (NYSE:BRSP) had its price target dropped by stock analysts at B. Riley Financial from $7.00 to $6.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price target would indicate a potential upside of 28.59% from the stock’s previous close.

A number of other research analysts have also recently commented on BRSP. JonesTrading restated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday. BTIG Research raised shares of 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. Finally, Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Price Performance

Shares of BRSP stock traded up $0.06 during trading on Thursday, hitting $5.05. The company had a trading volume of 799,008 shares, compared to its average volume of 1,111,655. The firm has a market capitalization of $658.57 million, a P/E ratio of -21.98 and a beta of 1.28. BrightSpire Capital has a one year low of $4.91 and a one year high of $6.16. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s 50-day moving average price is $5.48 and its 200 day moving average price is $5.69.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a positive return on equity of 6.85% and a negative net margin of 20.43%. Equities analysts expect that BrightSpire Capital will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in BrightSpire Capital in the first quarter valued at approximately $65,000. Axiom Investment Management LLC acquired a new position in shares of BrightSpire Capital during the first quarter worth $33,000. Weiss Asset Management LP bought a new position in shares of BrightSpire Capital in the 1st quarter valued at $120,000. KBC Group NV acquired a new stake in shares of BrightSpire Capital during the 1st quarter valued at $48,000. Finally, Independent Financial Group LLC acquired a new stake in shares of BrightSpire Capital during the 1st quarter valued at $270,000. 56.57% of the stock is currently 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.