BTIG Research Reaffirms Neutral Rating for BrightSpire Capital (NYSE:BRSP)

BTIG Research reiterated their neutral rating on shares of BrightSpire Capital (NYSE:BRSP) in a research note released on Friday morning, MarketBeat reports.

Other equities research analysts have also issued reports about the stock. Barclays reduced their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. Raymond James downgraded BrightSpire Capital from an outperform rating to a market perform rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $7.33.

BrightSpire Capital Price Performance

NYSE BRSP opened at $6.39 on Friday. BrightSpire Capital has a 52 week low of $5.20 and a 52 week high of $8.01. The firm has a market capitalization of $834.79 million, a P/E ratio of -11.62 and a beta of 1.92. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $6.05 and a 200-day moving average price of $6.50.

BrightSpire Capital (NYSE:BRSP) last released its 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 firm had revenue of $27.43 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.26 earnings per share. Equities research analysts anticipate that BrightSpire Capital will post 0.79 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.52%. BrightSpire Capital’s dividend payout ratio is currently -145.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position 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 during the last quarter. Quest Partners LLC bought a new stake in BrightSpire Capital in the fourth quarter worth $45,000. Arlington Trust Co LLC bought a new stake in BrightSpire Capital in the fourth quarter worth $67,000. RFG Advisory LLC bought a new stake in BrightSpire Capital in the second quarter worth $68,000. Finally, Arkadios Wealth Advisors bought a new stake in BrightSpire Capital in the fourth quarter worth $77,000. 56.57% of the stock is currently owned by 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.