BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $7.00 at Barclays

BrightSpire Capital (NYSE:BRSP) had its price objective cut by Barclays from $8.00 to $7.00 in a report issued on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Bank of America downgraded shares of BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 target price on the stock. in a research note on Monday, March 4th.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $6.02 on Thursday. BrightSpire Capital has a 12-month low of $5.20 and a 12-month high of $8.01. The company has a quick ratio of 0.55, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. The stock’s 50-day moving average price is $6.59 and its 200-day moving average price is $6.76.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $27.43 million for the quarter, compared to the consensus estimate of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Sell-side analysts expect that BrightSpire Capital will post 0.9 EPS for the current year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.29%. The ex-dividend date of this dividend was Wednesday, March 27th. BrightSpire Capital’s payout ratio is -145.45%.

Insiders Place Their Bets

In other news, insider David A. Palame sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the transaction, the insider now directly owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.91% of the company’s stock.

Institutional Investors Weigh In On BrightSpire Capital

A number of large investors have recently modified their holdings of BRSP. Allspring Global Investments Holdings LLC raised its stake in BrightSpire Capital by 2,407.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock worth $41,000 after buying an additional 5,753 shares in the last quarter. Quest Partners LLC bought a new position in BrightSpire Capital in the 4th quarter worth about $45,000. SG Americas Securities LLC purchased a new stake in BrightSpire Capital during the 3rd quarter valued at about $63,000. Arlington Trust Co LLC bought a new stake in BrightSpire Capital during the 4th quarter valued at about $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in BrightSpire Capital in the third quarter worth about $75,000. 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.