BrightSpire Capital (NYSE:BRSP) Hits New 12-Month High - Here's Why

Shares of BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $5.07 and last traded at $5.02, with a volume of 972869 shares trading hands. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

BRSP has been the subject of several analyst reports. JMP Securities cut their price target on BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating for the company in a research note on Tuesday, April 22nd. B. Riley lowered their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Alliance Global Partners initiated coverage on shares of BrightSpire Capital in a report on Friday, January 17th. They set a "buy" rating and a $7.25 price target for the company. Finally, Jones Trading restated a "buy" rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.31.

BrightSpire Capital Stock Up 4.4 %

The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The company has a market capitalization of $683.34 million, a PE ratio of -4.98 and a beta of 1.54. The firm's 50-day simple moving average is $5.35 and its 200 day simple moving average is $5.72.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The company had revenue of $17.46 million for the quarter, compared to analysts' expectations of $65.81 million. During the same period in the prior year, the firm posted $0.28 EPS. As a group, equities research analysts forecast that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 12.24%. The ex-dividend date of this dividend was Monday, March 31st. BrightSpire Capital's payout ratio is currently -114.29%.

Institutional Trading of BrightSpire Capital

Institutional investors have recently bought and sold shares of the company. CF Capital LLC acquired a new position in shares of BrightSpire Capital during the 4th quarter worth $4,343,000. Gratia Capital LLC acquired a new position in BrightSpire Capital during the fourth quarter worth about $3,384,000. Almitas Capital LLC acquired a new position in BrightSpire Capital during the fourth quarter worth about $2,010,000. Balyasny Asset Management L.P. lifted its holdings in shares of BrightSpire Capital by 16.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,132,234 shares of the company's stock valued at $6,386,000 after purchasing an additional 163,790 shares in the last quarter. Finally, Barclays PLC grew its position in shares of BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company's stock valued at $1,110,000 after purchasing an additional 152,131 shares during the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

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.