BrightSpire Capital (NYSE:BRSP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “BrightSpire Capital Inc. is a commercial real estate credit REIT. It focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments and net leased properties predominantly in the United States. BrightSpire Capital Inc., formerly known as Colony Credit Real Estate Inc., is based in NEW YORK. “

Other equities research analysts also recently issued reports about the stock. Raymond James upgraded shares of BrightSpire Capital from a market perform rating to an outperform rating in a report on Tuesday, November 2nd. TheStreet cut shares of BrightSpire Capital from a c- rating to a d+ rating in a research report on Wednesday, November 3rd. Finally, JMP Securities started coverage on shares of BrightSpire Capital in a research report on Friday, December 17th. They issued an outperform rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, BrightSpire Capital presently has a consensus rating of Buy and a consensus target price of $11.17.

Shares of NYSE BRSP opened at $10.13 on Tuesday. BrightSpire Capital has a 12 month low of $7.70 and a 12 month high of $10.68. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 1.23. The company has a 50-day simple moving average of $9.71 and a 200-day simple moving average of $9.69.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, November 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. BrightSpire Capital had a negative net margin of 192.55% and a positive return on equity of 5.49%. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, analysts expect that BrightSpire Capital will post 0.72 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Friday, December 31st were given a $0.18 dividend. The ex-dividend date was Thursday, December 30th. This is a boost from BrightSpire Capital’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 7.11%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -39.78%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wiley BROS. Aintree Capital LLC acquired a new position in BrightSpire Capital during the fourth quarter valued at approximately $463,000. Total Clarity Wealth Management Inc. acquired a new position in BrightSpire Capital during the third quarter valued at approximately $34,000. BerganKDV Wealth Management LLC lifted its position in BrightSpire Capital by 1,698.0% during the third quarter. BerganKDV Wealth Management LLC now owns 5,394 shares of the company’s stock valued at $51,000 after buying an additional 5,094 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in BrightSpire Capital during the second quarter valued at approximately $65,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in BrightSpire Capital during the second quarter valued at approximately $76,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a real estate investment trust. It originates, acquires, finances, and manages diversified portfolio consisting primarily of commercial real estate (CRE) senior mortgage loans, mezzanine loans, preferred equity, debt securities and net leased properties predominantly in the United States.

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