BrightSpire Capital, Inc. (NYSE:BRSP) Receives $6.60 Average Price Target from Analysts

BrightSpire Capital, Inc. (NYSE:BRSP) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.60.

BRSP has been the subject of a number of research analyst reports. JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, February 18th. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Barclays increased their price objective on BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Thursday, February 19th. Finally, B. Riley Financial assumed coverage on BrightSpire Capital in a research note on Monday, January 5th. They issued a “buy” rating and a $7.50 target price on the stock.

Hedge Funds Weigh In On BrightSpire Capital

Large investors have recently made changes to their positions in the stock. North Ground Capital boosted its stake in BrightSpire Capital by 90.5% in the 3rd quarter. North Ground Capital now owns 2,520,000 shares of the company’s stock worth $13,684,000 after purchasing an additional 1,197,000 shares during the period. Millennium Management LLC raised its position in BrightSpire Capital by 2,405.4% during the third quarter. Millennium Management LLC now owns 591,441 shares of the company’s stock valued at $3,212,000 after purchasing an additional 567,834 shares in the last quarter. Waterfall Asset Management LLC lifted its position in BrightSpire Capital by 225.7% in the 3rd quarter. Waterfall Asset Management LLC now owns 644,158 shares of the company’s stock worth $3,498,000 after buying an additional 446,358 shares during the last quarter. Blair William & Co. IL purchased a new stake in shares of BrightSpire Capital in the 4th quarter valued at $2,075,000. Finally, Goldman Sachs Group Inc. boosted its position in 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 period. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Stock Up 1.4%

Shares of NYSE:BRSP opened at $5.92 on Monday. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.16. The company has a market capitalization of $761.49 million, a PE ratio of -22.77, a price-to-earnings-growth ratio of 2.17 and a beta of 1.39. The business has a fifty day moving average price of $5.85 and a two-hundred day moving average price of $5.67. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.46 and a quick ratio of 0.46.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date was Wednesday, December 31st. BrightSpire Capital’s payout ratio is currently -246.15%.

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.