BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $6.50 at JMP Securities

BrightSpire Capital (NYSE:BRSP) had its price target cut by JMP Securities from $7.50 to $6.50 in a research note released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jones Trading cut their price objective on BrightSpire Capital from $7.25 to $6.50 and set a “buy” rating for the company in a research report on Thursday, April 17th. Alliance Global Partners initiated coverage on BrightSpire Capital in a report on Friday, January 17th. They set a “buy” rating and a $7.25 price target for the company. Finally, B. Riley lowered their price objective on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, BrightSpire Capital currently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

BrightSpire Capital Stock Up 4.7 %

BRSP opened at $4.64 on Tuesday. The firm has a market cap of $606.25 million, a P/E ratio of -4.42 and a beta of 1.54. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The business has a 50 day moving average price of $5.53 and a 200 day moving average price of $5.74. BrightSpire Capital has a twelve month low of $4.16 and a twelve month high of $6.71.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $17.46 million for the quarter, compared to the consensus estimate of $65.81 million. BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. During the same period in the prior year, the company posted $0.28 earnings per share. Research analysts forecast that BrightSpire Capital will post 0.67 EPS for the current year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.64 annualized dividend and a yield of 13.79%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -60.95%.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently bought and sold shares of BRSP. Merit Financial Group LLC increased its stake in BrightSpire Capital by 5.3% in the first quarter. Merit Financial Group LLC now owns 112,222 shares of the company’s stock valued at $624,000 after acquiring an additional 5,647 shares during the period. Ameriflex Group Inc. acquired a new position in shares of BrightSpire Capital in the 4th quarter worth approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of BrightSpire Capital by 40.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company’s stock worth $1,698,000 after buying an additional 87,242 shares during the period. Two Sigma Advisers LP boosted its stake in BrightSpire Capital by 5.0% in the 4th quarter. Two Sigma Advisers LP now owns 602,000 shares of the company’s stock valued at $3,395,000 after buying an additional 28,800 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in BrightSpire Capital by 13.6% in the fourth quarter. Two Sigma Investments LP now owns 536,444 shares of the company’s stock valued at $3,026,000 after acquiring an additional 64,384 shares during the period. 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.