BrightSpire Capital (NYSE:BRSP) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded BrightSpire Capital from “Sell” to “Hold,” aligning with MarketBeat’s overall consensus “Hold” rating. Analysts’ consensus price target is $6.50, with four Buy ratings and two Sell ratings.
• BRSP opened at $4.73, near its one-year low of $4.69 and below its 50-day and 200-day moving averages. The company reported quarterly EPS of $0.13, missing the $0.15 consensus estimate, while revenue of $48.7 million fell short of expectations.
• Institutional investors have recently increased their positions, and hedge funds and other institutions now own approximately 56.57% of BrightSpire Capital’s outstanding shares.

BrightSpire Capital (NYSE:BRSP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Tuesday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on BRSP. Weiss Ratings reissued a "sell (d+)" rating on shares of BrightSpire Capital in a research report on Friday, August 21st. B. Riley Financial cut their price target on BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, JonesTrading restated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has a consensus rating of "Hold" and a consensus target price of $6.50.

BrightSpire Capital Price Performance

NYSE BRSP opened at $4.73 on Tuesday. BrightSpire Capital has a one year low of $4.69 and a one year high of $6.16. The stock has a 50-day moving average of $5.17 and a 200 day moving average of $5.53. 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 company has a market capitalization of $598.44 million, a price-to-earnings ratio of -20.56, a PEG ratio of 3.38 and a beta of 1.29.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $48.70 million for the quarter, compared to analysts' expectations of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. On average, sell-side analysts forecast that BrightSpire Capital will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in BrightSpire Capital by 1,043.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,483,583 shares of the company's stock valued at $8,086,000 after buying an additional 1,353,818 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of BrightSpire Capital during the 2nd quarter worth approximately $3,754,000. Millennium Management LLC boosted its position in shares of BrightSpire Capital by 2,405.4% during the 3rd quarter. Millennium Management LLC now owns 591,441 shares of the company's stock valued at $3,212,000 after acquiring an additional 567,834 shares during the last quarter. North Ground Capital boosted its position in shares of BrightSpire Capital by 21.2% during the 4th quarter. North Ground Capital now owns 3,054,552 shares of the company's stock valued at $17,105,000 after acquiring an additional 534,552 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of BrightSpire Capital in the fourth quarter valued at $2,075,000. Hedge funds and other 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.

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