BrightSpire Capital (NYSE:BRSP – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks reports.
Other analysts also recently issued reports about the company. 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. The Goldman Sachs Group raised BrightSpire Capital to a “buy” rating in a research report on Wednesday, October 7th. Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a research note on Wednesday, October 7th. Weiss Ratings cut BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 4th. Finally, Citizens Jmp reduced their price target on BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating for the company in a report on Wednesday, October 7th. Six research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.
Check Out Our Latest Report on BRSP
BrightSpire Capital Price Performance
BRSP opened at $3.79 on Wednesday. The company has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $5.17. The firm has a market cap of $480.14 million, a price-to-earnings ratio of -16.50, a PEG ratio of 2.78 and a beta of 1.31. BrightSpire Capital has a twelve month low of $3.70 and a twelve month high of $6.16. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75.
BrightSpire Capital (NYSE:BRSP – Get Free Report) last released its quarterly earnings results 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 $48.67 million for the quarter, compared to analysts’ expectations of $64.31 million. Equities research analysts expect that BrightSpire Capital will post 0.44 EPS for the current fiscal year.
Institutional Trading of BrightSpire Capital
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in BrightSpire Capital in the second quarter valued at $26,000. Integrated Wealth Concepts LLC bought a new position in BrightSpire Capital during the 2nd quarter valued at $31,000. Cassaday & Co Wealth Management LLC bought a new position in BrightSpire Capital during the 1st quarter valued at $32,000. Axiom Investment Management LLC acquired a new position in BrightSpire Capital during the 1st quarter worth $33,000. Finally, Fermata Advisors LLC acquired a new position in BrightSpire Capital during the 3rd quarter worth $40,000. Institutional investors own 56.57% of the company’s stock.
BrightSpire Capital Company Profile
BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing commercial real estate debt and related investments.
Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.
The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.
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