Analysts Set BrightSpire Capital, Inc. (NYSE:BRSP) Price Target at $6.75

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.75.

A number of equities analysts have recently commented on BRSP shares. BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, JonesTrading reaffirmed a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, June 3rd.

Hedge Funds Weigh In On BrightSpire Capital

Hedge funds have recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in BrightSpire Capital by 0.5% in the third quarter. Private Management Group Inc. now owns 4,843,066 shares of the company’s stock worth $26,298,000 after purchasing an additional 24,572 shares during the last quarter. North Ground Capital boosted its position in shares of BrightSpire Capital by 21.2% during the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock valued at $17,105,000 after buying an additional 534,552 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of BrightSpire Capital by 13.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock valued at $15,996,000 after buying an additional 348,931 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of BrightSpire Capital by 13.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company’s stock valued at $12,684,000 after buying an additional 284,046 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BrightSpire Capital by 7.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company’s stock worth $12,465,000 after buying an additional 159,705 shares during the period. 56.57% of the stock is currently owned by institutional investors.

BrightSpire Capital Stock Down 0.3%

Shares of NYSE:BRSP opened at $5.32 on Friday. The stock has a market cap of $692.44 million, a price-to-earnings ratio of -19.69 and a beta of 1.28. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. BrightSpire Capital has a 12-month low of $4.87 and a 12-month high of $6.16. The business’s 50 day moving average is $5.62 and its 200 day moving average is $5.74.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. The company had revenue of $51.75 million during the quarter, compared to analysts’ expectations of $63.12 million. On average, sell-side analysts forecast that BrightSpire Capital will post 0.51 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is -237.04%.

BrightSpire Capital Company Profile

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.