Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) PT at $6.60

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

A number of analysts have recently issued reports on BRSP shares. Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. B. Riley Financial assumed coverage on shares of BrightSpire Capital in a research note on Monday, January 5th. They issued a “buy” rating and a $7.50 price target on the stock. Barclays increased their price target 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. Finally, JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, February 18th.

BrightSpire Capital Trading Up 0.1%

BRSP stock opened at $5.52 on Friday. BrightSpire Capital has a one year low of $4.16 and a one year high of $6.16. The stock has a market cap of $709.39 million, a price-to-earnings ratio of -21.21, a price-to-earnings-growth ratio of 2.05 and a beta of 1.39. The company has a fifty day moving average price of $5.79 and a two-hundred day moving average price of $5.66. 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend is Tuesday, March 31st. BrightSpire Capital’s dividend payout ratio (DPR) is presently -246.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in BrightSpire Capital by 10.7% during the 4th quarter. Millennium Management LLC now owns 654,448 shares of the company’s stock worth $3,665,000 after buying an additional 63,007 shares during the period. Abel Hall LLC grew its stake in shares of BrightSpire Capital by 7.5% in the fourth quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock valued at $249,000 after acquiring an additional 3,123 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in BrightSpire Capital by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 159,443 shares of the company’s stock worth $893,000 after acquiring an additional 6,173 shares during the period. California State Teachers Retirement System increased its position in BrightSpire Capital by 8.3% during the fourth quarter. California State Teachers Retirement System now owns 130,725 shares of the company’s stock worth $732,000 after acquiring an additional 10,017 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in BrightSpire Capital by 26.5% in the 4th quarter. State of Wisconsin Investment Board now owns 153,863 shares of the company’s stock worth $862,000 after purchasing an additional 32,186 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

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.