Analysts Set BrightSpire Capital, Inc. (NYSE:BRSP) Price Target at $7.69

BrightSpire Capital, Inc. (NYSE:BRSP) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.69.

A number of analysts recently weighed in on the stock. B. Riley reduced their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Alliance Global Partners started coverage on BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Private Management Group Inc. lifted its holdings in shares of BrightSpire Capital by 1.3% in the fourth quarter. Private Management Group Inc. now owns 4,632,732 shares of the company’s stock valued at $26,129,000 after purchasing an additional 57,759 shares in the last quarter. Geode Capital Management LLC raised its position in BrightSpire Capital by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,082,637 shares of the company’s stock valued at $17,267,000 after buying an additional 14,606 shares during the period. Conversant Capital LLC lifted its stake in BrightSpire Capital by 3.7% in the 4th quarter. Conversant Capital LLC now owns 2,801,223 shares of the company’s stock worth $15,799,000 after acquiring an additional 100,000 shares in the last quarter. Northern Trust Corp lifted its stake in BrightSpire Capital by 7.6% in the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company’s stock worth $7,260,000 after acquiring an additional 91,263 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in BrightSpire Capital by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company’s stock worth $6,400,000 after acquiring an additional 129,120 shares during the period. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Trading Up 0.3 %

Shares of BRSP stock opened at $5.84 on Friday. The stock has a 50-day simple moving average of $5.88 and a 200 day simple moving average of $5.88. The stock has a market capitalization of $757.36 million, a P/E ratio of -5.56 and a beta of 1.98. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $6.98. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $17.46 million during the quarter, compared to analyst estimates of $65.81 million. BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. During the same period in the previous year, the company posted $0.28 earnings per share. On average, sell-side analysts expect that BrightSpire Capital will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.96%. BrightSpire Capital’s dividend payout ratio is currently -60.95%.

BrightSpire Capital Company Profile

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.