BrightSpire Capital (NYSE:BRSP) Sets New 12-Month Low – Here’s What Happened

BrightSpire Capital, Inc. (NYSE:BRSP) shares hit a new 52-week low during trading on Monday . The company traded as low as $4.08 and last traded at $4.17, with a volume of 3989865 shares traded. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BRSP shares. Weiss Ratings lowered BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 4th. JonesTrading reissued a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. B. Riley Financial decreased their price target on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

BrightSpire Capital Price Performance

The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $525.71 million, a price-to-earnings ratio of -18.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.27. The business’s fifty day simple moving average is $4.91 and its 200 day simple moving average is $5.40.

BrightSpire Capital (NYSE:BRSP) last announced 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). The business had revenue of $48.67 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. Research analysts predict that BrightSpire Capital, Inc. will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 15.4%. BrightSpire Capital’s dividend payout ratio is currently -278.26%.

Institutional Investors Weigh In On BrightSpire Capital

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of BrightSpire Capital by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 693,630 shares of the company’s stock valued at $3,884,000 after purchasing an additional 22,562 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of BrightSpire Capital by 18.8% during the first quarter. Renaissance Technologies LLC now owns 293,300 shares of the company’s stock worth $1,642,000 after buying an additional 46,400 shares in the last quarter. Bank of America Corp DE increased its stake in shares of BrightSpire Capital by 3.5% in the first quarter. Bank of America Corp DE now owns 217,042 shares of the company’s stock worth $1,215,000 after buying an additional 7,408 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of BrightSpire Capital by 56.8% in the first quarter. Quantinno Capital Management LP now owns 121,032 shares of the company’s stock worth $678,000 after buying an additional 43,851 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in BrightSpire Capital by 93.9% in the first quarter. Sei Investments Co. now owns 82,373 shares of the company’s stock valued at $461,000 after acquiring an additional 39,900 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.