BrightSpire Capital (NYSE:BRSP) Reaches New 1-Year Low at $5.08

BrightSpire Capital, Inc. (NYSE:BRSP)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $5.08 and last traded at $5.11, with a volume of 200406 shares. The stock had previously closed at $5.52.

Analysts Set New Price Targets

Several analysts have issued reports on BRSP shares. BTIG Research restated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. Raymond James cut BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Finally, Barclays decreased their target price on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, BrightSpire Capital has an average rating of “Hold” and an average price target of $7.33.

BrightSpire Capital Price Performance

The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.48 and a current ratio of 0.46. The business has a fifty day moving average of $5.99 and a two-hundred day moving average of $6.40. The firm has a market capitalization of $700.21 million, a price-to-earnings ratio of -9.75 and a beta of 1.92.

BrightSpire Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 11.94%. BrightSpire Capital’s dividend payout ratio is currently -116.36%.

Institutional Investors Weigh In On BrightSpire Capital

Several large investors have recently added to or reduced their stakes in BRSP. International Assets Investment Management LLC bought a new position in BrightSpire Capital in the fourth quarter worth approximately $1,720,000. Arkadios Wealth Advisors purchased a new position in BrightSpire Capital during the 4th quarter valued at about $77,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BrightSpire Capital by 30.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,210 shares of the company’s stock worth $255,000 after buying an additional 8,004 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of BrightSpire Capital by 3.9% during the 4th quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock valued at $11,620,000 after buying an additional 59,342 shares during the period. Finally, Private Management Group Inc. raised its holdings in BrightSpire Capital by 1.0% in the 4th quarter. Private Management Group Inc. now owns 4,432,343 shares of the company’s stock worth $32,977,000 after purchasing an additional 45,507 shares during the period. Institutional investors and hedge funds 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.