BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $7.00 at Barclays

BrightSpire Capital (NYSE:BRSP) had its target price decreased by investment analysts at Barclays from $8.00 to $7.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 13.64% from the company’s current price.

Separately, Bank of America cut shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research report on Monday, March 4th.

BrightSpire Capital Price Performance

Shares of BrightSpire Capital stock traded down $0.07 on Thursday, hitting $6.16. 150,978 shares of the company traded hands, compared to its average volume of 715,870. The stock has a market capitalization of $804.74 million, a P/E ratio of -47.15 and a beta of 1.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 0.55. BrightSpire Capital has a 52 week low of $5.20 and a 52 week high of $8.01. The business has a 50-day simple moving average of $6.63 and a 200 day simple moving average of $6.76.

Insider Activity at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the transaction, the insider now directly owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Alpine Global Management LLC boosted its stake in BrightSpire Capital by 449.0% during the third quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock worth $1,972,000 after buying an additional 257,619 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of BrightSpire Capital by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,446,629 shares of the company’s stock valued at $9,056,000 after purchasing an additional 73,396 shares during the period. Vanguard Group Inc. boosted its stake in shares of BrightSpire Capital by 0.6% during the third quarter. Vanguard Group Inc. now owns 12,480,508 shares of the company’s stock valued at $78,128,000 after purchasing an additional 71,369 shares during the period. HighTower Advisors LLC boosted its stake in shares of BrightSpire Capital by 6.2% during the third quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock valued at $322,000 after purchasing an additional 3,000 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of BrightSpire Capital by 14.5% during the third quarter. Penserra Capital Management LLC now owns 79,744 shares of the company’s stock valued at $499,000 after purchasing an additional 10,070 shares during the period. 56.57% of the stock is owned by hedge funds and other institutional investors.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.