BrightSpire Capital (NYSE:BRSP) Announces Earnings Results, Hits Estimates

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) posted its quarterly earnings results on Tuesday. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16, Zacks reports. BrightSpire Capital had a positive return on equity of 8.07% and a negative net margin of 44.85%.

BrightSpire Capital Stock Up 0.7%

NYSE:BRSP traded up $0.04 on Tuesday, hitting $5.01. The stock had a trading volume of 988,913 shares, compared to its average volume of 716,608. 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 stock has a market cap of $652.96 million, a P/E ratio of -8.94 and a beta of 1.47. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.45. The firm's fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $5.36.

BrightSpire Capital Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 12.79%. BrightSpire Capital's dividend payout ratio (DPR) is -114.29%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new stake in BrightSpire Capital in the first quarter worth $128,000. AQR Capital Management LLC bought a new stake in BrightSpire Capital in the first quarter worth $131,000. Royal Bank of Canada lifted its stake in BrightSpire Capital by 90.1% in the first quarter. Royal Bank of Canada now owns 109,674 shares of the company's stock worth $610,000 after purchasing an additional 51,977 shares during the last quarter. Jane Street Group LLC lifted its stake in BrightSpire Capital by 257.9% in the first quarter. Jane Street Group LLC now owns 286,724 shares of the company's stock worth $1,594,000 after purchasing an additional 206,610 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BrightSpire Capital by 9.2% in 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 worth $1,828,000 after purchasing an additional 27,713 shares during the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRSP has been the subject of a number of research analyst reports. Jones Trading restated a "buy" rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, April 30th. JMP Securities dropped their price target on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating for the company in a research report on Tuesday, April 22nd. Industrial Alliance Securities set a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Alliance Global Partners reiterated a "buy" rating on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Finally, Barclays reiterated an "underweight" rating and issued a $5.00 price target (down from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, BrightSpire Capital presently has an average rating of "Moderate Buy" and a consensus price target of $6.79.

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.

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