BrightSpire Capital (NYSE:BRSP) Reaches New 1-Year Low – What’s Next?

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) hit a new 52-week low during trading on Friday . The company traded as low as $4.25 and last traded at $4.32, with a volume of 50669 shares traded. The stock had previously closed at $4.44.

Analysts Set New Price Targets

Several research firms have recently weighed in on BRSP. Alliance Global Partners started coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price target for the company. B. Riley dropped their price target on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.69.

BrightSpire Capital Price Performance

The stock has a 50-day moving average price of $5.71 and a two-hundred day moving average price of $5.80. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The stock has a market cap of $563.79 million, a price-to-earnings ratio of -4.11 and a beta of 1.54.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. During the same quarter last year, the company earned $0.28 EPS. As a group, equities research analysts forecast that BrightSpire Capital, Inc. will post 0.67 EPS for the current year.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 14.83%. The ex-dividend date of this dividend is Monday, March 31st. BrightSpire Capital’s payout ratio is -60.95%.

Institutional Investors Weigh In On BrightSpire Capital

A number of large investors have recently bought and sold shares of the company. CF Capital LLC purchased a new position in shares of BrightSpire Capital during the fourth quarter worth $4,343,000. Gratia Capital LLC acquired a new stake in BrightSpire Capital during the fourth quarter worth about $3,384,000. Almitas Capital LLC acquired a new stake in shares of BrightSpire Capital during the 4th quarter worth approximately $2,010,000. Balyasny Asset Management L.P. lifted its stake in shares of BrightSpire Capital by 16.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,132,234 shares of the company’s stock valued at $6,386,000 after purchasing an additional 163,790 shares during the period. Finally, Barclays PLC increased its holdings in BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock valued at $1,110,000 after buying an additional 152,131 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

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.