BrightSpire Capital (NYSE:BRSP) Shares Gap Up – Here’s Why

BrightSpire Capital, Inc. (NYSE:BRSP) gapped up prior to trading on Wednesday . The stock had previously closed at $5.25, but opened at $5.45. BrightSpire Capital shares last traded at $5.67, with a volume of 208,341 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BTIG Research reissued a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.00.

BrightSpire Capital Trading Down 2.1 %

The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $794.22 million, a P/E ratio of -5.96 and a beta of 1.89. The company has a fifty day simple moving average of $5.67 and a two-hundred day simple moving average of $5.89.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of 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 purchasing an additional 5,753 shares in the last quarter. ORG Partners LLC acquired a new stake in BrightSpire Capital in the 3rd quarter valued at $53,000. EverSource Wealth Advisors LLC lifted its position in BrightSpire Capital by 5,602.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after buying an additional 10,085 shares in the last quarter. McAdam LLC acquired a new position in shares of BrightSpire Capital during the 3rd quarter worth about $58,000. Finally, Founders Financial Securities LLC acquired a new position in shares of BrightSpire Capital during the 2nd quarter worth about $62,000. 56.57% of the stock is owned by institutional investors and hedge funds.

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.