BrightSpire Capital (NYSE:BRSP) Raised to “Buy” at BTIG Research

BrightSpire Capital (NYSE:BRSP) was upgraded by equities researchers at BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $7.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 15.99% from the stock’s current price.

A number of other research firms have also issued reports on BRSP. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. B. Riley Financial started coverage on shares of BrightSpire Capital in a report on Monday, January 5th. They issued a “buy” rating and a $7.50 target price on the stock. JonesTrading restated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, February 18th. Finally, Barclays upped their target price on shares of BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Thursday, February 19th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.70.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $6.04 on Wednesday. The stock 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. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.21. The business has a fifty day moving average of $5.73 and a 200-day moving average of $5.67. BrightSpire Capital has a fifty-two week low of $4.64 and a fifty-two week high of $6.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BRSP. Royal Bank of Canada increased its stake in shares of BrightSpire Capital by 90.1% during the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock valued at $610,000 after acquiring an additional 51,977 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of BrightSpire Capital during the 1st quarter valued at about $131,000. Goldman Sachs Group Inc. increased its stake in shares of BrightSpire Capital by 2.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock valued at $11,184,000 after acquiring an additional 46,749 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of BrightSpire Capital by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock valued at $1,828,000 after acquiring an additional 27,713 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of BrightSpire Capital by 257.9% during the 1st quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock valued at $1,594,000 after acquiring an additional 206,610 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

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.