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

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.69.

BRSP has been the subject of a number of recent research reports. Alliance Global Partners assumed coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective for the company. B. Riley decreased their price target on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $5.68 on Friday. The firm has a market cap of $735.96 million, a price-to-earnings ratio of -5.40 and a beta of 1.98. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $6.88. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The firm has a fifty day moving average price of $5.88 and a 200 day moving average price of $5.88.

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

BrightSpire Capital Announces Dividend

The firm 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 $0.16 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.28%. BrightSpire Capital’s payout ratio is -60.95%.

Hedge Funds Weigh In On BrightSpire Capital

A number of large investors have recently bought and sold shares of BRSP. Barclays PLC lifted its position in shares of BrightSpire Capital by 329.1% during the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after purchasing an additional 152,131 shares during the last quarter. Jane Street Group LLC increased its stake in BrightSpire Capital by 19.7% in the 3rd quarter. Jane Street Group LLC now owns 193,470 shares of the company’s stock worth $1,083,000 after buying an additional 31,865 shares during the period. Geode Capital Management LLC lifted its holdings in BrightSpire Capital by 0.5% during the 3rd 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 in the last quarter. Atria Investments Inc boosted its position in BrightSpire Capital by 34.5% in the 3rd quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock valued at $170,000 after buying an additional 7,779 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in BrightSpire Capital in the 4th quarter worth about $72,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

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.