JonesTrading Reaffirms Buy Rating for BrightSpire Capital (NYSE:BRSP)

BrightSpire Capital (NYSE:BRSP)‘s stock had its “buy” rating reiterated by investment analysts at JonesTrading in a research report issued on Wednesday,Benzinga reports. They presently have a $6.50 target price on the stock. JonesTrading’s price target suggests a potential upside of 12.65% from the stock’s previous close.

A number of other research analysts have also issued reports on BRSP. B. Riley Financial started coverage on shares of BrightSpire Capital in a report on Monday, January 5th. They issued a “buy” rating and a $7.50 target price on the stock. Citigroup restated a “market outperform” rating on shares of BrightSpire Capital in a research report on Thursday, October 30th. Finally, Weiss Ratings upgraded BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.60.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $5.77 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.55 and a current ratio of 0.55. The business’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $5.65. The stock has a market cap of $748.54 million, a PE ratio of -22.19 and a beta of 1.39. BrightSpire Capital has a one year low of $4.16 and a one year high of $6.32.

Institutional Investors Weigh In On BrightSpire Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. lifted its holdings in BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after purchasing an additional 1,798 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of BrightSpire Capital by 9.1% in the 4th quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock worth $167,000 after acquiring an additional 2,480 shares in the last quarter. National Bank of Canada FI grew its position in BrightSpire Capital by 50.0% during the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after acquiring an additional 2,500 shares during the last quarter. M&T Bank Corp grew its position in BrightSpire Capital by 22.5% during the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after acquiring an additional 2,501 shares during the last quarter. Finally, Eight 31 Financial LLC increased its holdings in BrightSpire Capital by 22.6% during the 3rd quarter. Eight 31 Financial LLC now owns 15,200 shares of the company’s stock valued at $83,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

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.