Raymond James Downgrades BrightSpire Capital (NYSE:BRSP) to Market Perform

Raymond James lowered shares of BrightSpire Capital (NYSE:BRSP) from an outperform rating to a market perform rating in a research report report published on Friday, Marketbeat.com reports.

Other analysts have also recently issued research reports about the stock. Barclays cut their price target 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 cut BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 target price for the company. in a research note on Monday, March 4th.

BrightSpire Capital Trading Down 2.4 %

Shares of BRSP stock opened at $6.02 on Friday. The stock has a 50-day moving average of $6.59 and a 200-day moving average of $6.77. The company has a current ratio of 0.48, a quick ratio of 0.55 and a debt-to-equity ratio of 1.63. The stock has a market cap of $786.45 million, a price-to-earnings ratio of -10.95 and a beta of 1.89. BrightSpire Capital has a 1-year low of $5.20 and a 1-year high of $8.01.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. During the same period in the prior year, the company posted $0.26 EPS. On average, equities research analysts forecast that BrightSpire Capital will post 0.9 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 13.29%. BrightSpire Capital’s dividend payout ratio is currently -145.45%.

Insider Activity

In related news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the transaction, the insider now directly owns 347,832 shares of the company’s stock, valued at approximately $2,351,344.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds and other institutional investors have recently modified their holdings of BRSP. Allspring Global Investments Holdings LLC lifted its holdings in shares of BrightSpire Capital by 2,407.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock worth $41,000 after purchasing an additional 5,753 shares in the last quarter. Quest Partners LLC acquired a new position in shares of BrightSpire Capital during the fourth quarter valued at about $45,000. SG Americas Securities LLC bought a new stake in shares of BrightSpire Capital during the third quarter worth about $63,000. Arlington Trust Co LLC acquired a new stake in shares of BrightSpire Capital in the 4th quarter worth about $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in BrightSpire Capital in the 3rd quarter valued at about $75,000. Institutional investors own 56.57% of the company’s stock.

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.