BrightSpire Capital, Inc. (NYSE:BRSP) Given Average Rating of “Hold” by Brokerages
by Kim Johansen · The Markets DailyShares of BrightSpire Capital, Inc. (NYSE:BRSP – Get Free Report) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.60.
Several equities analysts have recently weighed in on BRSP shares. B. Riley Financial started coverage on shares of BrightSpire Capital in a research report on Monday, January 5th. They issued a “buy” rating and a $7.50 price objective on the stock. Barclays lifted their target price on shares of BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, February 19th. Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Finally, JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, February 18th.
Check Out Our Latest Report on BRSP
BrightSpire Capital Stock Performance
BrightSpire Capital stock traded down $0.03 during mid-day trading on Friday, hitting $5.62. 132,936 shares of the company’s stock traded hands, compared to its average volume of 879,739. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $5.66. BrightSpire Capital has a fifty-two week low of $4.16 and a fifty-two week high of $6.16. The stock has a market cap of $723.27 million, a price-to-earnings ratio of -21.56, a P/E/G ratio of 2.11 and a beta of 1.39.
BrightSpire Capital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.4%. BrightSpire Capital’s dividend payout ratio (DPR) is -246.15%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its holdings in shares of BrightSpire Capital by 0.5% during the third quarter. Private Management Group Inc. now owns 4,843,066 shares of the company’s stock worth $26,298,000 after buying an additional 24,572 shares in the last quarter. Nomura Holdings Inc. grew its stake in shares of BrightSpire Capital by 5.1% in the second quarter. Nomura Holdings Inc. now owns 3,418,495 shares of the company’s stock valued at $17,263,000 after acquiring an additional 165,792 shares in the last quarter. Geode Capital Management LLC increased its position in BrightSpire Capital by 0.8% during the second quarter. Geode Capital Management LLC now owns 3,133,854 shares of the company’s stock worth $15,828,000 after acquiring an additional 25,841 shares during the period. North Ground Capital increased its position in BrightSpire Capital by 21.2% during the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock worth $17,105,000 after acquiring an additional 534,552 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in BrightSpire Capital by 13.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock worth $15,996,000 after purchasing an additional 348,931 shares in the last quarter. Institutional investors 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.