Raymond James Downgrades BrightSpire Capital (NYSE:BRSP) to Market Perform

BrightSpire Capital (NYSE:BRSP) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a report released on Friday, MarketBeat.com reports.

A number of other research firms have also commented on BRSP. Bank of America lowered shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a research report on Monday, March 4th. Barclays lowered their price objective on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday.

BrightSpire Capital Trading Down 2.4 %

Shares of BRSP stock opened at $6.02 on Friday. BrightSpire Capital has a 12-month low of $5.20 and a 12-month high of $8.01. The company has a market capitalization of $786.45 million, a PE ratio of -10.95 and a beta of 1.89. The firm has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $6.76. The company has a quick ratio of 0.55, a current ratio of 0.48 and a debt-to-equity ratio of 1.63.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. The firm had revenue of $27.43 million during the quarter, compared to analyst estimates of $28.64 million. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, analysts predict that BrightSpire Capital will post 0.9 earnings per share for the current year.

Insider Buying and Selling at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the sale, the insider now directly owns 347,832 shares in the company, valued at approximately $2,351,344.32. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in BrightSpire Capital by 2,407.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after buying an additional 5,753 shares in the last quarter. Quest Partners LLC bought a new stake in shares of BrightSpire Capital during the fourth quarter worth about $45,000. SG Americas Securities LLC acquired a new position in shares of BrightSpire Capital in the third quarter valued at approximately $63,000. Arlington Trust Co LLC acquired a new position in BrightSpire Capital in the 4th quarter valued at approximately $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of BrightSpire Capital during the third quarter valued at $75,000. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

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.