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

BrightSpire Capital, Inc. (NYSE:BRSP)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $4.61 and last traded at $4.6250, with a volume of 527870 shares traded. The stock had previously closed at $4.68.

Analysts Set New Price Targets

BRSP has been the topic of several analyst reports. Wall Street Zen raised shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. B. Riley Financial reduced their price objective on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings cut shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Finally, JonesTrading reissued a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Price Performance

The stock has a market capitalization of $585.15 million, a price-to-earnings ratio of -20.11, a P/E/G ratio of 3.33 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. The stock has a fifty day moving average of $5.08 and a 200-day moving average of $5.49.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data 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 company had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. On average, equities research analysts predict that BrightSpire Capital, Inc. will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 13.8%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -278.26%.

Institutional Trading of BrightSpire Capital

A number of large investors have recently made changes to their positions in BRSP. Royal Bank of Canada increased its position in BrightSpire Capital by 90.1% during the first quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock worth $610,000 after buying an additional 51,977 shares during the period. AQR Capital Management LLC acquired a new position in shares of BrightSpire Capital in the 1st quarter valued at $131,000. Goldman Sachs Group Inc. increased its holdings in shares of BrightSpire Capital by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock valued at $11,184,000 after acquiring an additional 46,749 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in BrightSpire Capital by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock valued at $1,828,000 after purchasing an additional 27,713 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in BrightSpire Capital by 257.9% during the 1st quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock worth $1,594,000 after purchasing an additional 206,610 shares during the period. 56.57% of the stock is owned by institutional investors and hedge funds.

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.