BrightSpire Capital, Inc. (NYSE:BRSP) Receives $6.40 Average Target Price from Analysts

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.40.

BRSP has been the topic of a number of research reports. B. Riley Financial assumed coverage on BrightSpire Capital in a research note on Monday, January 5th. They set a “buy” rating and a $7.50 price target on the stock. Weiss Ratings upgraded shares of BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 3rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of BrightSpire Capital in a report on Thursday, October 30th.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in BRSP. Everstar Asset Management LLC increased its position in BrightSpire Capital by 4.5% in the 4th quarter. Everstar Asset Management LLC now owns 121,754 shares of the company’s stock valued at $682,000 after acquiring an additional 5,288 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of BrightSpire Capital by 3.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 400,159 shares of the company’s stock valued at $2,241,000 after purchasing an additional 12,716 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of BrightSpire Capital by 240.3% in the fourth quarter. SG Americas Securities LLC now owns 73,161 shares of the company’s stock valued at $410,000 after purchasing an additional 51,663 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of BrightSpire Capital by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,821,391 shares of the company’s stock valued at $9,890,000 after purchasing an additional 54,652 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of BrightSpire Capital by 812.1% during the third quarter. CIBC Private Wealth Group LLC now owns 10,945 shares of the company’s stock worth $59,000 after purchasing an additional 9,745 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $5.83 on Thursday. The stock’s 50-day moving average is $5.87 and its two-hundred day moving average is $5.62. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.55 and a current ratio of 0.55. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.32. The firm has a market cap of $756.33 million, a price-to-earnings ratio of -19.43 and a beta of 1.39.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend was Wednesday, December 31st. BrightSpire Capital’s dividend payout ratio is presently -213.33%.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.