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 research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the company. BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd. JonesTrading reissued a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 29th. B. Riley Financial cut their price objective 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. Finally, Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, BrightSpire Capital currently has a consensus rating of “Hold” and an average price target of $6.50.

BrightSpire Capital Price Performance

BrightSpire Capital stock opened at $4.91 on Friday. BrightSpire Capital has a one year low of $4.85 and a one year high of $6.16. The business has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.64. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $621.21 million, a P/E ratio of -21.35 and a beta of 1.29.

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). The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. As a group, equities research analysts forecast that BrightSpire Capital will post 0.51 EPS for the current year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 13.0%. The ex-dividend date of this dividend was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds have recently bought and sold shares of BRSP. Weiss Asset Management LP purchased a new position in BrightSpire Capital in the 1st quarter worth $120,000. Cassaday & Co Wealth Management LLC purchased a new stake in BrightSpire Capital during the first quarter valued at about $32,000. KBC Group NV purchased a new stake in BrightSpire Capital during the first quarter valued at about $48,000. Main Street Group LTD bought a new position in shares of BrightSpire Capital during the first quarter valued at about $50,000. Finally, Independent Financial Group LLC bought a new position in shares of BrightSpire Capital during the first quarter valued at about $270,000. 56.57% of the stock is currently owned by institutional investors.

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.