BrightSpire Capital (NYSE:BRSP) Hits New 12-Month Low – What’s Next?

BrightSpire Capital, Inc. (NYSE:BRSP)’s stock price hit a new 52-week low on Monday . The company traded as low as $4.84 and last traded at $4.85, with a volume of 597650 shares changing hands. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRSP. Wall Street Zen upgraded shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Sunday. JonesTrading restated a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday, April 22nd. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Finally, B. Riley Financial decreased their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Trading Down 3.4%

The company has a market capitalization of $611.09 million, a price-to-earnings ratio of -21.00, a P/E/G ratio of 3.56 and a beta of 1.29. 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 business’s 50-day simple moving average is $5.33 and its 200-day simple moving average is $5.62.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $48.70 million for the quarter, compared to the consensus estimate of $64.31 million. On average, research analysts expect that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 13.3%. BrightSpire Capital’s dividend payout ratio is -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. increased its stake in shares of 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 acquiring an additional 1,798 shares during the last quarter. Cerity Partners LLC grew its holdings in BrightSpire Capital by 9.1% during the fourth quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock valued at $167,000 after purchasing an additional 2,480 shares during the period. National Bank of Canada FI increased its stake in BrightSpire Capital by 50.0% in the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after purchasing an additional 2,500 shares in the last quarter. M&T Bank Corp raised its holdings in BrightSpire Capital by 22.5% in the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after purchasing an additional 2,501 shares during the period. Finally, Abel Hall LLC boosted its position in shares of BrightSpire Capital by 7.5% during the fourth quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock worth $249,000 after purchasing an additional 3,123 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.