BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $6.50 at B. Riley Financial

Key Points

• B. Riley Financial lowered BrightSpire Capital’s price target to $6.50 from $7.00 while maintaining a “buy” rating, implying 28.59% upside from the stock’s $5.05 price. The analyst consensus remains “Hold” with an average target of $6.50.
• BrightSpire shares rose 1.1% to $5.05, but the company recently missed quarterly expectations, reporting $0.13 in earnings per share versus $0.15 expected and revenue of $48.70 million versus $64.31 million estimated.
• Institutional investors increased their holdings, with institutions owning 56.57% of the stock. Analyst sentiment is mixed, with four Buy ratings and two Sell ratings.

BrightSpire Capital (NYSE:BRSP - Get Free Report) had its price objective lowered by stock analysts at B. Riley Financial from $7.00 to $6.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's target price suggests a potential upside of 28.59% from the company's current price.

Other analysts have also issued research reports about the stock. JonesTrading reissued a "buy" rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday. Weiss Ratings lowered shares of BrightSpire Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 26th. Finally, BTIG Research raised shares of BrightSpire Capital from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.50.

BrightSpire Capital Stock Up 1.1%

BrightSpire Capital stock traded up $0.06 during midday trading on Thursday, reaching $5.05. The stock had a trading volume of 799,008 shares, compared to its average volume of 1,111,655. The firm's fifty day simple moving average is $5.48 and its 200-day simple moving average is $5.69. BrightSpire Capital has a 1-year low of $4.91 and a 1-year high of $6.16. The stock has a market capitalization of $658.57 million, a P/E ratio of -21.98 and a beta of 1.28. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 6.85% and a negative net margin of 20.43%. As a group, analysts expect that BrightSpire Capital will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. North Ground Capital boosted its holdings in shares of BrightSpire Capital by 21.2% during the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company's stock worth $17,105,000 after acquiring an additional 534,552 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of BrightSpire Capital by 13.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company's stock worth $15,996,000 after buying an additional 348,931 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of BrightSpire Capital by 13.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company's stock worth $12,684,000 after buying an additional 284,046 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BrightSpire Capital by 7.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company's stock valued at $12,465,000 after acquiring an additional 159,705 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of BrightSpire Capital by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company's stock valued at $12,557,000 after acquiring an additional 305,264 shares during the period. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Company Profile

BrightSpire Capital Inc NYSE: BRSP is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.

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