BrightSpire Capital (NYSE:BRSP) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded BrightSpire Capital from “Hold” to “Sell,” while the broader analyst consensus remains “Hold” with an average price target of $6.50.
• BRSP opened at $4.91, near its 52-week low of $4.80, and trades below both its 50-day and 200-day moving averages.
• The company missed quarterly expectations, reporting $0.13 in EPS versus the $0.15 estimate and revenue of $48.70 million versus the $64.31 million consensus.

BrightSpire Capital (NYSE:BRSP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Monday.

A number of other analysts have also weighed in on BRSP. Weiss Ratings lowered shares of BrightSpire Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 26th. JonesTrading reiterated a "buy" rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 29th. Finally, B. Riley Financial lowered their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating for the company in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has a consensus rating of "Hold" and an average target price of $6.50.

BrightSpire Capital Stock Performance

BRSP opened at $4.91 on Monday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $5.58. BrightSpire Capital has a 1 year low of $4.80 and a 1 year high of $6.16. The company has a market capitalization of $621.21 million, a PE ratio of -21.35, a price-to-earnings-growth ratio of 3.49 and a beta of 1.29.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $48.70 million during the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. Research analysts expect that BrightSpire Capital will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in BrightSpire Capital by 90.1% in the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company's stock valued at $610,000 after purchasing an additional 51,977 shares during the period. AQR Capital Management LLC acquired a new position in BrightSpire Capital during the first quarter worth $131,000. Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 46,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 valued at $1,828,000 after buying an additional 27,713 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings 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 buying an additional 206,610 shares during the last quarter. Institutional investors own 56.57% of the company's stock.

About BrightSpire Capital

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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