BrightSpire Capital (NYSE:BRSP) Rating Lowered to Market Perform at Raymond James

BrightSpire Capital (NYSE:BRSP) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Friday, Briefing.com reports.

A number of other research analysts have also recently commented on the stock. Barclays reduced their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a report on Monday, March 4th.

BrightSpire Capital Price Performance

NYSE:BRSP traded down $0.01 during mid-day trading on Friday, hitting $6.16. 154,881 shares of the company’s stock traded hands, compared to its average volume of 715,230. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.76. BrightSpire Capital has a 1 year low of $5.20 and a 1 year high of $8.01. The company has a market cap of $804.74 million, a PE ratio of -11.22 and a beta of 1.89.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.15%. The company had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts expect that BrightSpire Capital will post 0.9 EPS for the current year.

Insider Activity

In other news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the transaction, the insider now owns 347,832 shares in the company, valued at approximately $2,351,344.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BrightSpire Capital

A number of large investors have recently added to or reduced their stakes in BRSP. Vanguard Group Inc. boosted its position in shares of BrightSpire Capital by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares during the period. Private Management Group Inc. boosted its position in shares of BrightSpire Capital by 1.0% in the fourth quarter. Private Management Group Inc. now owns 4,432,343 shares of the company’s stock valued at $32,977,000 after acquiring an additional 45,507 shares during the period. Federated Hermes Inc. boosted its position in shares of BrightSpire Capital by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock valued at $11,620,000 after acquiring an additional 59,342 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of BrightSpire Capital by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock valued at $11,086,000 after acquiring an additional 43,415 shares during the period. Finally, Norges Bank bought a new stake in shares of BrightSpire Capital in the fourth quarter valued at approximately $6,726,000. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

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.