BrightSpire Capital (NYSE:BRSP) Posts Quarterly Earnings Results

BrightSpire Capital (NYSE:BRSP) issued its earnings results on Tuesday. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02), FiscalAI reports. BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%.The company had revenue of $55.40 million for the quarter, compared to analyst estimates of $64.31 million.

BrightSpire Capital Stock Down 1.7%

BrightSpire Capital stock traded down $0.09 during midday trading on Wednesday, hitting $5.15. 150,260 shares of the stock were exchanged, compared to its average volume of 1,093,325. The company has a 50 day moving average price of $5.50 and a two-hundred day moving average price of $5.70. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $670.81 million, a P/E ratio of -19.17 and a beta of 1.28. BrightSpire Capital has a 1 year low of $5.05 and a 1 year high of $6.16.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is presently -237.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BRSP. Millennium Management LLC raised its position in shares of BrightSpire Capital by 10.7% in the 4th quarter. Millennium Management LLC now owns 654,448 shares of the company’s stock valued at $3,665,000 after purchasing an additional 63,007 shares in the last quarter. Abel Hall LLC increased its stake in shares of BrightSpire Capital by 7.5% in the fourth quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock worth $249,000 after buying an additional 3,123 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in BrightSpire Capital by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 159,443 shares of the company’s stock valued at $893,000 after acquiring an additional 6,173 shares in the last quarter. California State Teachers Retirement System boosted its stake in BrightSpire Capital by 8.3% during the 4th quarter. California State Teachers Retirement System now owns 130,725 shares of the company’s stock valued at $732,000 after acquiring an additional 10,017 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in BrightSpire Capital by 26.5% during the 4th quarter. State of Wisconsin Investment Board now owns 153,863 shares of the company’s stock worth $862,000 after acquiring an additional 32,186 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

BrightSpire Capital Company Profile

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.