BrightSpire Capital (NYSE:BRSP) Coverage Initiated at Alliance Global Partners

Equities research analysts at Alliance Global Partners began coverage on shares of BrightSpire Capital (NYSE:BRSP) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $7.25 price target on the stock. Alliance Global Partners’ target price suggests a potential upside of 27.75% from the company’s current price.

A number of other brokerages also recently commented on BRSP. JMP Securities restated a “market outperform” rating and set a $7.50 target price on shares of BrightSpire Capital in a report on Thursday, September 19th. B. Riley decreased their price objective on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.45.

BrightSpire Capital Stock Down 0.3 %

Shares of NYSE:BRSP opened at $5.68 on Friday. The stock’s 50-day moving average is $6.06 and its 200 day moving average is $5.88. The company has a market cap of $735.93 million, a PE ratio of -5.56 and a beta of 1.88. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. BrightSpire Capital has a 1 year low of $5.07 and a 1 year high of $7.71.

Institutional Investors Weigh In On BrightSpire Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D purchased a new stake in shares of BrightSpire Capital in the 2nd quarter worth approximately $1,844,000. Barclays PLC grew its stake in shares of BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after acquiring an additional 152,131 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of BrightSpire Capital by 50.1% during the second quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock valued at $1,677,000 after acquiring an additional 98,236 shares in the last quarter. Private Management Group Inc. raised its position in shares of BrightSpire Capital by 1.9% in the 3rd quarter. Private Management Group Inc. now owns 4,574,973 shares of the company’s stock worth $25,620,000 after purchasing an additional 85,787 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in BrightSpire Capital by 222.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 108,023 shares of the company’s stock worth $605,000 after purchasing an additional 74,512 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

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.