BrightSpire Capital (NYSE:BRSP) Hits New 52-Week Low – Here’s What Happened

Shares of BrightSpire Capital, Inc. (NYSE:BRSPGet Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.40 and last traded at $4.4150, with a volume of 87992 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BRSP shares. B. Riley Financial lowered their price objective on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, July 30th. JonesTrading reiterated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Weiss Ratings downgraded BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. Finally, Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.50.

Read Our Latest Analysis on BrightSpire Capital

BrightSpire Capital Trading Down 0.1%

The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day simple moving average of $4.97 and a two-hundred day simple moving average of $5.44. The firm has a market cap of $559.85 million, a PE ratio of -19.24, a P/E/G ratio of 3.15 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSPGet Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.The firm had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $64.31 million. Analysts expect that BrightSpire Capital, Inc. will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 14.5%. The ex-dividend date is Wednesday, September 30th. BrightSpire Capital’s dividend payout ratio is -278.26%.

Institutional Trading of BrightSpire Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. lifted its holdings in BrightSpire Capital by 59.2% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after purchasing an additional 1,798 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of BrightSpire Capital during the second quarter worth $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of BrightSpire Capital in the first quarter valued at about $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of BrightSpire Capital in the second quarter valued at about $31,000. Finally, Axiom Investment Management LLC purchased a new position in shares of BrightSpire Capital in the first quarter worth about $33,000. 56.57% of the stock is currently owned by institutional investors and hedge funds.

About BrightSpire Capital

(Get Free Report)

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.

Recommended Stories

Receive News & Ratings for BrightSpire Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BrightSpire Capital and related companies with MarketBeat.com's FREE daily email newsletter.