BrightSpire Capital (NYSE:BRSP) Hits New 52-Week Low – Here’s Why

BrightSpire Capital, Inc. (NYSE:BRSP)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $4.69 and last traded at $4.73, with a volume of 1377018 shares. The stock had previously closed at $4.75.

Wall Street Analyst Weigh In

Several research firms have issued reports on BRSP. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightSpire Capital in a report on Friday, August 21st. JonesTrading reiterated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. B. Riley Financial reduced their price objective on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Stock Up 0.8%

The business’s 50 day simple moving average is $5.13 and its 200 day simple moving average is $5.51. The company has a market capitalization of $591.99 million, a PE ratio of -20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 1.27. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.The firm had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $64.31 million. As a group, analysts forecast that BrightSpire Capital, Inc. will post 0.47 EPS for the current year.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 13.7%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s payout ratio is presently -278.26%.

Institutional Trading of BrightSpire Capital

Hedge funds have recently modified their holdings of the business. North Ground Capital boosted its position in shares of 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 period. Goldman Sachs Group Inc. raised its position in BrightSpire Capital by 13.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock valued at $15,996,000 after buying an additional 348,931 shares during the period. Punch & Associates Investment Management Inc. raised its position in BrightSpire Capital by 13.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company’s stock valued at $12,684,000 after buying an additional 284,046 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BrightSpire Capital by 7.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company’s stock worth $12,465,000 after acquiring an additional 159,705 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in BrightSpire Capital by 15.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company’s stock worth $12,557,000 after acquiring an additional 305,264 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.