Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) Target Price at $6.79

Shares of BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) have earned an average rating of "Moderate Buy" from the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.79.

BRSP has been the subject of a number of research reports. Industrial Alliance Securities set a $6.50 price objective on BrightSpire Capital in a report on Wednesday, April 30th. Alliance Global Partners reissued a "buy" rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. JMP Securities reduced their price objective on BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating for the company in a report on Tuesday, April 22nd. Barclays reissued an "underweight" rating and issued a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a research report on Tuesday. Finally, Jones Trading reissued a "buy" rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, April 30th.

BrightSpire Capital Price Performance

NYSE:BRSP traded down $0.08 during mid-day trading on Tuesday, reaching $5.04. The stock had a trading volume of 1,755,765 shares, compared to its average volume of 741,507. The stock has a market capitalization of $657.52 million, a P/E ratio of -9.00 and a beta of 1.47. BrightSpire Capital has a one year low of $4.16 and a one year high of $6.71. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a 50 day moving average price of $5.19 and a two-hundred day moving average price of $5.44.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.16 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.70%. BrightSpire Capital's payout ratio is -114.29%.

Hedge Funds Weigh In On BrightSpire Capital

Several hedge funds and other institutional investors have recently made changes to their positions in BRSP. Bank of America Corp DE boosted its position in shares of BrightSpire Capital by 56.0% during the fourth quarter. Bank of America Corp DE now owns 158,229 shares of the company's stock worth $892,000 after buying an additional 56,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of BrightSpire Capital by 40.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company's stock worth $1,698,000 after purchasing an additional 87,242 shares in the last quarter. Millennium Management LLC increased its position in shares of BrightSpire Capital by 281.1% during the fourth quarter. Millennium Management LLC now owns 131,743 shares of the company's stock worth $743,000 after purchasing an additional 97,175 shares in the last quarter. Two Sigma Investments LP increased its position in shares of BrightSpire Capital by 13.6% during the fourth quarter. Two Sigma Investments LP now owns 536,444 shares of the company's stock worth $3,026,000 after purchasing an additional 64,384 shares in the last quarter. Finally, Northern Trust Corp increased its position in BrightSpire Capital by 7.6% in the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock valued at $7,260,000 after acquiring an additional 91,263 shares during the period. Hedge funds and other 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.