BrightSpire Capital (NYSE:BRSP) Shares Gap Down – Here’s What Happened

BrightSpire Capital, Inc. (NYSE:BRSP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $5.75, but opened at $5.60. BrightSpire Capital shares last traded at $5.6030, with a volume of 13,480 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightSpire Capital in a report on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of BrightSpire Capital in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, BrightSpire Capital presently has an average rating of “Hold” and an average target price of $6.79.

BrightSpire Capital Stock Up 2.1%

The firm has a fifty day moving average of $5.61 and a 200-day moving average of $5.46. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.81. The firm has a market cap of $741.41 million, a P/E ratio of -19.05 and a beta of 1.38.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Wednesday, February 24th. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $37.88 million during the quarter. BrightSpire Capital had a positive return on equity of 7.51% and a negative net margin of 26.91%. On average, equities research analysts anticipate that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.2%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -213.33%.

Institutional Trading of BrightSpire Capital

A number of large investors have recently added to or reduced their stakes in BRSP. Focus Partners Advisor Solutions LLC bought a new position in BrightSpire Capital during the second quarter worth $81,000. State of New Jersey Common Pension Fund D raised its position in shares of BrightSpire Capital by 16.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 370,756 shares of the company’s stock valued at $1,872,000 after purchasing an additional 52,056 shares during the period. Waterfall Asset Management LLC acquired a new stake in shares of BrightSpire Capital during the 2nd quarter worth about $999,000. Greenland Capital Management LP boosted its holdings in shares of BrightSpire Capital by 5.0% during the 2nd quarter. Greenland Capital Management LP now owns 1,349,430 shares of the company’s stock worth $6,815,000 after buying an additional 64,430 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of BrightSpire Capital by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,133,854 shares of the company’s stock worth $15,828,000 after buying an additional 25,841 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

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.