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

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.70.

BRSP has been the topic of several recent research reports. B. Riley Financial initiated coverage on shares of BrightSpire Capital in a research report on Monday, January 5th. They issued a “buy” rating and a $7.50 price target on the stock. Barclays lifted their price target on shares of BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, February 19th. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Finally, JonesTrading restated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, February 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BRSP. 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 boosted its stake in BrightSpire Capital by 2,405.4% in the 3rd quarter. Millennium Management LLC now owns 591,441 shares of the company’s stock worth $3,212,000 after purchasing an additional 567,834 shares during the period. Waterfall Asset Management LLC boosted its stake 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 purchasing an additional 446,358 shares during the period. Blair William & Co. IL acquired a new position in BrightSpire Capital in the 4th quarter worth approximately $2,075,000. Finally, Goldman Sachs Group Inc. boosted 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 during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Trading Down 0.4%

BrightSpire Capital stock opened at $6.04 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $786.24 million, a price-to-earnings ratio of -23.21, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. BrightSpire Capital has a 1 year low of $4.64 and a 1 year high of $6.16. The firm’s 50 day moving average price is $5.73 and its two-hundred day moving average price is $5.67.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.16 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.64 annualized dividend and a yield of 10.6%. BrightSpire Capital’s payout ratio is -246.15%.

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.