BrightSpire Capital (NYSE:BRSP) Announces Earnings Results

Key Points

• BrightSpire Capital reported an EPS of $0.16 for the quarter, matching analysts' expectations, despite a negative net margin of 44.85%.
• The company announced a quarterly dividend of $0.16, resulting in a 12.79% yield, although its dividend payout ratio is -114.29%.
• BrightSpire Capital’s stock has seen recent analyst activity, with a consensus price target of $6.79 and a mixture of buy and sell ratings from investment analysts.

BrightSpire Capital (NYSE:BRSP - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16, Zacks reports. BrightSpire Capital had a positive return on equity of 7.74% and a negative net margin of 16.92%. The business had revenue of $77.56 million for the quarter, compared to analyst estimates of $77.56 million.

BrightSpire Capital Price Performance

Shares of BRSP stock traded down $0.01 during trading hours on Friday, reaching $5.17. 880,182 shares of the company were exchanged, compared to its average volume of 793,797. BrightSpire Capital has a fifty-two week low of $4.16 and a fifty-two week high of $6.45. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.46. The stock's fifty day moving average is $5.12 and its two-hundred day moving average is $5.35. The company has a market cap of $672.05 million, a price-to-earnings ratio of -23.50 and a beta of 1.52.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.4%. BrightSpire Capital's payout ratio is currently -290.91%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Jones Trading reissued a "buy" rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday. JMP Securities decreased their price objective on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a research note on Tuesday, April 22nd. Barclays reiterated an "underweight" rating and issued a $5.00 target price (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Finally, Alliance Global Partners reissued a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.79.

Institutional Trading of BrightSpire Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new position in BrightSpire Capital in the 1st quarter valued at $128,000. Jane Street Group LLC lifted its stake in shares of BrightSpire Capital by 257.9% during the first quarter. Jane Street Group LLC now owns 286,724 shares of the company's stock valued at $1,594,000 after acquiring an additional 206,610 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of BrightSpire Capital by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company's stock valued at $1,828,000 after acquiring an additional 27,713 shares during the period. Goldman Sachs Group Inc. boosted its holdings in BrightSpire Capital by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company's stock valued at $11,184,000 after acquiring an additional 46,749 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in BrightSpire Capital in the first quarter worth about $131,000. Institutional investors and hedge funds 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.