B. Riley Lowers BrightSpire Capital (NYSE:BRSP) Price Target to $9.00

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

Separately, JMP Securities reiterated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday, September 19th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.50.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $5.68 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $5.89. The firm has a market capitalization of $736.61 million, a PE ratio of -5.57 and a beta of 1.88. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $7.71.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 11.27%. The ex-dividend date is Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. grew its holdings in shares of BrightSpire Capital by 1.9% in the third quarter. Private Management Group Inc. now owns 4,574,973 shares of the company’s stock valued at $25,620,000 after purchasing an additional 85,787 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BrightSpire Capital by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,082,637 shares of the company’s stock worth $17,267,000 after buying an additional 14,606 shares during the last quarter. Federated Hermes Inc. raised its position in shares of BrightSpire Capital by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock valued at $9,054,000 after buying an additional 6,297 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of BrightSpire Capital by 7.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,028,517 shares of the company’s stock valued at $5,760,000 after acquiring an additional 70,030 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in BrightSpire Capital by 14.5% in the third quarter. Private Advisor Group LLC now owns 557,638 shares of the company’s stock worth $3,123,000 after acquiring an additional 70,752 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

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.