BrightSpire Capital (NYSE:BRSP) Given Buy Rating at Jones Trading

Key Points

• BrightSpire Capital's stock received a "buy" rating from Jones Trading with a target price of $6.50, indicating a potential upside of 25% from its previous close.
• The stock price increased by 4.4% during midday trading, reaching $5.20, with a trading volume significantly higher than its average.
• As of now, BrightSpire Capital has an average rating of "Moderate Buy" from analysts, with the overall price target averaging $6.79.

BrightSpire Capital (NYSE:BRSP - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Jones Trading in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.50 target price on the stock. Jones Trading's price objective would suggest a potential upside of 25.73% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. JMP Securities reduced 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. Alliance Global Partners reiterated a "buy" rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Barclays reiterated an "underweight" rating and set a $5.00 price objective (down from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Finally, Industrial Alliance Securities set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.79.

BrightSpire Capital Stock Performance

Shares of BRSP stock traded down $0.01 on Wednesday, hitting $5.17. The company's stock had a trading volume of 880,182 shares, compared to its average volume of 793,797. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.46 and a current ratio of 0.54. The stock's 50 day moving average is $5.12 and its 200-day moving average is $5.35. BrightSpire Capital has a fifty-two week low of $4.16 and a fifty-two week high of $6.45. The company has a market capitalization of $672.05 million, a PE ratio of -23.50 and a beta of 1.52.

Institutional Trading of BrightSpire Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in BrightSpire Capital by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 74,753 shares of the company's stock valued at $416,000 after purchasing an additional 3,224 shares in the last quarter. HighTower Advisors LLC boosted its holdings in BrightSpire Capital by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 95,316 shares of the company's stock worth $530,000 after acquiring an additional 3,916 shares during the last quarter. Merit Financial Group LLC boosted its holdings in BrightSpire Capital by 5.3% during the 1st quarter. Merit Financial Group LLC now owns 112,222 shares of the company's stock worth $624,000 after acquiring an additional 5,647 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its holdings in BrightSpire Capital by 18.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 36,164 shares of the company's stock worth $204,000 after acquiring an additional 5,749 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in BrightSpire Capital during the 4th quarter worth $37,000. Institutional investors own 56.57% of the company's stock.

About BrightSpire Capital

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.