Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) Price Target at $6.40

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.40.

Several research firms recently commented on BRSP. Citigroup reaffirmed a “market outperform” rating on shares of BrightSpire Capital in a report on Thursday, October 30th. Weiss Ratings raised BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, B. Riley Financial assumed coverage on BrightSpire Capital in a report on Monday, January 5th. They set a “buy” rating and a $7.50 price target on the stock.

BrightSpire Capital Stock Up 0.2%

Shares of BRSP opened at $5.91 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.55 and a quick ratio of 0.55. The business’s 50 day simple moving average is $5.87 and its 200-day simple moving average is $5.61. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.32. The stock has a market capitalization of $766.70 million, a price-to-earnings ratio of -19.70 and a beta of 1.39.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.8%. The ex-dividend date was Wednesday, December 31st. BrightSpire Capital’s payout ratio is presently -213.33%.

Institutional Trading of BrightSpire Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its holdings in BrightSpire Capital by 50.0% in the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after acquiring an additional 2,500 shares during the last quarter. M&T Bank Corp raised its position in BrightSpire Capital by 22.5% in the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after purchasing an additional 2,501 shares during the period. Eight 31 Financial LLC lifted its stake in shares of BrightSpire Capital by 22.6% in the 3rd quarter. Eight 31 Financial LLC now owns 15,200 shares of the company’s stock valued at $83,000 after purchasing an additional 2,800 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of BrightSpire Capital by 32.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 15,167 shares of the company’s stock worth $82,000 after purchasing an additional 3,712 shares during the period. Finally, Alpine Global Management LLC increased its position in shares of BrightSpire Capital by 3.5% during the 3rd quarter. Alpine Global Management LLC now owns 131,583 shares of the company’s stock worth $714,000 after purchasing an additional 4,465 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.