Citizens Jmp Cuts BrightSpire Capital (NYSE:BRSP) Price Target to $6.00

Key Points

• Citizens JMP lowered BrightSpire Capital’s price target from $7.00 to $6.00 while maintaining a “market outperform” rating, implying roughly 58.5% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: BrightSpire has a consensus “Moderate Buy” rating and a $6.00 average target, based on six Buy ratings and two Sell ratings.
• The company’s latest quarter fell short of expectations, reporting EPS of $0.13 versus $0.15 expected and revenue of $48.67 million versus $64.31 million forecast; the stock opened at $3.79 and institutional investors own 56.57% of shares.

BrightSpire Capital (NYSE:BRSP - Get Free Report) had its price target dropped by equities researchers at Citizens Jmp from $7.00 to $6.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 58.52% from the company's previous close.

Several other brokerages have also issued reports on BRSP. Wall Street Zen raised shares of BrightSpire Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, September 1st. Barclays reduced their price objective on shares of BrightSpire Capital from $6.00 to $4.00 and set an "underweight" rating on the stock in a research note on Monday. JonesTrading reaffirmed a "buy" rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 29th. B. Riley Financial dropped their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group raised BrightSpire Capital to a "buy" rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.00.

BrightSpire Capital Trading Up 0.4%

BRSP stock opened at $3.79 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75. BrightSpire Capital has a twelve month low of $3.72 and a twelve month high of $6.16. The company has a market cap of $478.88 million, a P/E ratio of -16.46, a PEG ratio of 2.80 and a beta of 1.31. The business has a fifty day moving average of $4.58 and a 200-day moving average of $5.26.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $48.67 million during the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. As a group, equities research analysts expect that BrightSpire Capital will post 0.45 EPS for the current year.

Institutional Trading of BrightSpire Capital

A number of large investors have recently made changes to their positions in BRSP. Bank of New York Mellon Corp bought a new position in BrightSpire Capital during the second quarter worth $3,754,000. Independent Financial Group LLC bought a new position in shares of BrightSpire Capital in the first quarter valued at about $270,000. Renaissance Technologies LLC raised its position in shares of BrightSpire Capital by 18.8% in the first quarter. Renaissance Technologies LLC now owns 293,300 shares of the company's stock valued at $1,642,000 after purchasing an additional 46,400 shares during the period. Quantinno Capital Management LP lifted its stake in shares of BrightSpire Capital by 56.8% during the 1st quarter. Quantinno Capital Management LP now owns 121,032 shares of the company's stock worth $678,000 after buying an additional 43,851 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of BrightSpire Capital by 93.9% during the 1st quarter. Sei Investments Co. now owns 82,373 shares of the company's stock worth $461,000 after buying an additional 39,900 shares during the period. 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 commercial real estate debt and related investments.

Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.

The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.

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