BrightSpire Capital (NYSE:BRSP) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of BrightSpire Capital (NYSE:BRSP) in a research report report published on Thursday, Benzinga reports. JMP Securities currently has a $7.50 price objective on the stock.

Separately, BTIG Research reissued a neutral rating on shares of BrightSpire Capital in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $7.00.

BrightSpire Capital Price Performance

NYSE:BRSP opened at $5.98 on Thursday. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $8.01. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The firm has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $6.13. The stock has a market capitalization of $781.20 million, a PE ratio of -10.87 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 10.70%. BrightSpire Capital’s dividend payout ratio (DPR) is -116.36%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after purchasing an additional 873,407 shares during the period. Private Management Group Inc. lifted its holdings in shares of BrightSpire Capital by 0.9% during the second quarter. Private Management Group Inc. now owns 4,489,186 shares of the company’s stock worth $25,588,000 after buying an additional 39,732 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of BrightSpire Capital by 0.4% during the second quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock worth $9,054,000 after buying an additional 6,297 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BrightSpire Capital by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock worth $11,086,000 after buying an additional 43,415 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of BrightSpire Capital by 34.7% during the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after buying an additional 275,175 shares in the last quarter. 56.57% of the stock is owned by 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.