BrightSpire Capital (NYSE:BRSP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on BRSP. Barclays dropped their price target on BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Monday, October 5th. Zacks Research lowered shares of BrightSpire Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Weiss Ratings cut shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. Citizens Jmp dropped their target price on shares of BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 7th. Finally, JonesTrading reissued a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $3.67 on Friday. The company has a market capitalization of $464.96 million, a PE ratio of -15.98, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. 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 stock has a fifty day moving average of $4.23 and a 200-day moving average of $5.29. BrightSpire Capital has a one year low of $3.56 and a one year high of $6.16.

BrightSpire Capital (NYSE:BRSP) last announced its earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) 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 company had revenue of $48.67 million for the quarter, compared to analyst estimates of $64.31 million. As a group, equities analysts anticipate that BrightSpire Capital will post 0.44 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 17.4%. The ex-dividend date of this dividend was Wednesday, September 30th. BrightSpire Capital’s dividend payout ratio is currently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of BrightSpire Capital by 364.2% during the third quarter. Signaturefd LLC now owns 18,512 shares of the company’s stock worth $71,000 after purchasing an additional 14,524 shares during the period. 55 North Private Wealth LLC acquired a new position in BrightSpire Capital in the 3rd quarter valued at approximately $44,000. Abel Hall LLC increased its stake in BrightSpire Capital by 45.3% in the 3rd quarter. Abel Hall LLC now owns 60,279 shares of the company’s stock valued at $231,000 after buying an additional 18,798 shares during the period. Fermata Advisors LLC acquired a new position in BrightSpire Capital in the 3rd quarter valued at approximately $40,000. Finally, Versant Capital Management Inc lifted its position in BrightSpire Capital by 155.4% in the 3rd quarter. Versant Capital Management Inc now owns 13,037 shares of the company’s stock worth $50,000 after buying an additional 7,932 shares in the last quarter. Hedge funds and other 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 a portfolio of commercial real estate debt and related investments.

BrightSpire’s investments primarily include senior mortgage loans, mezzanine loans, preferred equity and other real estate-related credit investments. Its portfolio may be secured by properties across several commercial real estate sectors, including office, multifamily, industrial, hospitality, retail and other specialized property types.

The company serves commercial real estate owners, operators and developers primarily in the United States.