JonesTrading Issues Pessimistic Forecast for BrightSpire Capital (NYSE:BRSP) Stock Price

Key Points

• JonesTrading lowered BrightSpire Capital’s price target from $6.50 to $6.25 but maintained a “buy” rating, implying approximately 71% upside from the prior close.
• Analyst sentiment is mixed: six analysts rate the stock “Buy” and three rate it “Sell,” resulting in a consensus “Hold” rating and an average target price of $5.95.
• BRSP shares traded near $3.65, close to their 52-week low of $3.56. The company beat quarterly expectations with earnings of $0.14 per share versus $0.13 expected and revenue of $109.77 million versus $83.56 million expected.

BrightSpire Capital (NYSE:BRSP - Get Free Report) had its price objective dropped by investment analysts at JonesTrading from $6.50 to $6.25 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. JonesTrading's target price indicates a potential upside of 71.00% from the company's previous close.

Other analysts also recently issued reports about the company. Citigroup reaffirmed a "market outperform" rating on shares of BrightSpire Capital in a research report on Wednesday, October 7th. B. Riley Financial reduced their price target on BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Thursday, July 30th. Zacks Research lowered shares of BrightSpire Capital from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 14th. Citizens Jmp cut their price target on shares of BrightSpire Capital from $7.00 to $6.00 and set a "market outperform" rating for the company in a report on Wednesday, October 7th. Finally, The Goldman Sachs Group raised BrightSpire Capital to a "buy" rating in a research note on Wednesday, October 7th. Six investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.95.

BrightSpire Capital Price Performance

BrightSpire Capital stock traded down $0.07 during mid-day trading on Wednesday, reaching $3.65. The company had a trading volume of 4,315,513 shares, compared to its average volume of 1,283,822. The business has a fifty day simple moving average of $4.20 and a 200 day simple moving average of $5.28. The company has a market cap of $462.45 million, a P/E ratio of -15.89, a P/E/G ratio of 2.75 and a beta of 1.31. BrightSpire Capital has a fifty-two week low of $3.56 and a fifty-two week high of $6.16. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $109.77 million during the quarter, compared to the consensus estimate of $83.56 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. On average, equities research analysts predict that BrightSpire Capital will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On BrightSpire Capital

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in shares of BrightSpire Capital by 364.2% in the 3rd quarter. Signaturefd LLC now owns 18,512 shares of the company's stock worth $71,000 after buying an additional 14,524 shares during the last quarter. 55 North Private Wealth LLC purchased a new stake in BrightSpire Capital during the third quarter valued at $44,000. Abel Hall LLC raised its holdings in BrightSpire Capital by 45.3% in the 3rd quarter. Abel Hall LLC now owns 60,279 shares of the company's stock worth $231,000 after purchasing an additional 18,798 shares during the period. Fermata Advisors LLC bought a new position in BrightSpire Capital in the 3rd quarter worth $40,000. Finally, Versant Capital Management Inc lifted its holdings in BrightSpire Capital by 155.4% in the 3rd quarter. Versant Capital Management Inc now owns 13,037 shares of the company's stock worth $50,000 after purchasing an additional 7,932 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

About BrightSpire Capital

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 a portfolio of commercial real estate debt and related investments.

BrightSpire's investments primarily include senior mortgage loans, mezzanine loans, preferred equity and other real estate-related credit investments. Its portfolio may be secured by properties across several commercial real estate sectors, including office, multifamily, industrial, hospitality, retail and other specialized property types.

The company serves commercial real estate owners, operators and developers primarily in the United States.

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