BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume – Still a Buy?

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) saw an uptick in trading volume on Monday . Approximately 3,827,554 shares traded hands during mid-day trading, an increase of 299% from the previous session’s volume of 959,447 shares.The stock last traded at $5.5150 and had previously closed at $5.54.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BRSP shares. Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. JonesTrading restated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, June 3rd. Finally, BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, BrightSpire Capital has a consensus rating of “Hold” and a consensus target price of $6.75.

BrightSpire Capital Price Performance

The firm has a market cap of $711.98 million, a PE ratio of -20.20 and a beta of 1.28. The firm has a fifty day simple moving average of $5.73 and a two-hundred day simple moving average of $5.77. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51.

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

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 11.7%. BrightSpire Capital’s dividend payout ratio is presently -237.04%.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors have recently bought and sold shares of BRSP. Private Management Group Inc. increased its holdings in shares of 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 buying an additional 24,572 shares during the last quarter. North Ground Capital lifted its holdings in shares of BrightSpire Capital by 21.2% in the 4th quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock valued at $17,105,000 after acquiring an additional 534,552 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 348,931 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake 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 worth $12,684,000 after acquiring an additional 284,046 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BrightSpire Capital by 7.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company’s stock valued at $12,465,000 after purchasing an additional 159,705 shares during the period. 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.