BrightSpire Capital (NYSE:BRSP) Releases Earnings Results, Misses Expectations By $0.44 EPS

BrightSpire Capital (NYSE:BRSP) issued its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.44), FiscalAI reports. BrightSpire Capital had a negative net margin of 26.91% and a positive return on equity of 7.51%.

BrightSpire Capital Price Performance

BRSP stock traded up $0.08 during trading on Tuesday, hitting $5.81. The company had a trading volume of 788,294 shares, compared to its average volume of 694,466. The business has a 50 day moving average of $5.88 and a 200 day moving average of $5.64. The firm has a market capitalization of $753.73 million, a price-to-earnings ratio of -19.37 and a beta of 1.39. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.81. BrightSpire Capital has a fifty-two week low of $4.16 and a fifty-two week high of $6.32.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.0%. BrightSpire Capital’s dividend payout ratio is presently -213.33%.

Analyst Upgrades and Downgrades

BRSP has been the topic of several research reports. Weiss Ratings upgraded BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 3rd. Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a report on Thursday, October 30th. Finally, B. Riley Financial initiated coverage on BrightSpire Capital in a research note on Monday, January 5th. They set a “buy” rating and a $7.50 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BRSP. California State Teachers Retirement System raised its stake in BrightSpire Capital by 7.1% during the 3rd quarter. California State Teachers Retirement System now owns 120,708 shares of the company’s stock valued at $655,000 after purchasing an additional 8,036 shares during the period. Kestra Advisory Services LLC lifted its stake in BrightSpire Capital by 5.8% in the 4th quarter. Kestra Advisory Services LLC now owns 85,862 shares of the company’s stock worth $481,000 after acquiring an additional 4,733 shares in the last quarter. Squarepoint Ops LLC boosted its position in BrightSpire Capital by 371.7% during the 3rd quarter. Squarepoint Ops LLC now owns 47,697 shares of the company’s stock worth $259,000 after acquiring an additional 37,585 shares during the period. Mariner LLC grew its stake in BrightSpire Capital by 10.9% during the 4th quarter. Mariner LLC now owns 36,444 shares of the company’s stock valued at $204,000 after acquiring an additional 3,579 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of BrightSpire Capital in the 4th quarter valued at about $184,000. 56.57% of the stock is 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.