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

BrightSpire Capital, Inc. (NYSE:BRSP) shares hit a new 52-week low during trading on Monday . The company traded as low as $4.40 and last traded at $4.4150, with a volume of 87992 shares trading hands. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. B. Riley Financial lowered their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings downgraded shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 4th. Finally, JonesTrading reiterated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.50.

BrightSpire Capital Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a market cap of $562.38 million, a P/E ratio of -19.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.27. The firm’s 50-day moving average is $5.01 and its two-hundred day moving average is $5.46.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $48.70 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. As a group, research analysts expect that BrightSpire Capital, Inc. will post 0.47 EPS for the current year.

Hedge Funds Weigh In On BrightSpire Capital

Hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. lifted its holdings in BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after purchasing an additional 1,798 shares during the last quarter. Cerity Partners LLC grew its stake in BrightSpire Capital by 9.1% during the fourth quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock worth $167,000 after buying an additional 2,480 shares during the last quarter. National Bank of Canada FI grew its stake in BrightSpire Capital by 50.0% during the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after buying an additional 2,500 shares during the last quarter. M&T Bank Corp increased its holdings in shares of BrightSpire Capital by 22.5% during the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after buying an additional 2,501 shares in the last quarter. Finally, Abel Hall LLC increased its holdings 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 buying an additional 3,123 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.