BrightSpire Capital, Inc. (NYSE:BRSP – Get Free Report) shares reached a new 52-week low on Monday. The stock traded as low as $3.98 and last traded at $3.9850, with a volume of 265479 shares trading hands. The stock had previously closed at $4.09.
Analyst Upgrades and Downgrades
Several analysts have recently commented on BRSP shares. Wall Street Zen raised shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. JonesTrading reiterated a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. B. Riley Financial lowered their target price on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings downgraded BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.50.
View Our Latest Report on BRSP
BrightSpire Capital Stock Performance
BrightSpire Capital (NYSE:BRSP – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The business had revenue of $48.67 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. As a group, equities analysts anticipate that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current fiscal year.
BrightSpire Capital Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.64 annualized dividend and a yield of 15.7%. BrightSpire Capital’s dividend payout ratio is presently -278.26%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of BRSP. Financial Gravity Asset Management Inc. increased its stake in BrightSpire Capital by 59.2% in the fourth 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 bought a new stake in shares of BrightSpire Capital in the 2nd quarter valued at $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of BrightSpire Capital in the 1st quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new stake in BrightSpire Capital during the 2nd quarter worth $31,000. Finally, Axiom Investment Management LLC bought a new position in BrightSpire Capital during the first quarter worth about $33,000. Institutional investors own 56.57% of the company’s stock.
BrightSpire Capital Company Profile
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.
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