B. Riley Issues Pessimistic Forecast for BrightSpire Capital (NYSE:BRSP) Stock Price

BrightSpire Capital (NYSE:BRSP) had its target price decreased by B. Riley from $10.00 to $9.00 in a research note released on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

Separately, JMP Securities restated a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and a consensus price target of $7.50.

BrightSpire Capital Stock Performance

BrightSpire Capital stock opened at $5.74 on Tuesday. The stock has a market cap of $744.39 million, a P/E ratio of -5.63 and a beta of 1.88. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $7.71. The firm’s fifty day moving average price is $6.12 and its 200-day moving average price is $5.89.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.16 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 11.15%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PFG Investments LLC raised its holdings in BrightSpire Capital by 3.3% in the second quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock worth $458,000 after purchasing an additional 2,570 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in BrightSpire Capital by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after acquiring an additional 3,608 shares in the last quarter. Sei Investments Co. grew its stake in shares of BrightSpire Capital by 14.4% in the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after acquiring an additional 4,500 shares during the last quarter. Diversify Advisory Services LLC increased its holdings in shares of BrightSpire Capital by 27.9% during the third quarter. Diversify Advisory Services LLC now owns 25,131 shares of the company’s stock valued at $134,000 after acquiring an additional 5,482 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in BrightSpire Capital by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock worth $9,054,000 after purchasing an additional 6,297 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.