BrightSpire Capital (NYSE:BRSP) Shares Gap Down - What's Next?

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.12, but opened at $4.93. BrightSpire Capital shares last traded at $5.09, with a volume of 302,705 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on BRSP. JMP Securities cut their price target on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a report on Tuesday, April 22nd. Alliance Global Partners reaffirmed a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Barclays reissued an "underweight" rating and set a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a report on Tuesday. Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. Finally, Jones Trading reissued a "buy" rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $6.79.

BrightSpire Capital Stock Down 1.6%

The firm's 50-day moving average price is $5.19 and its 200 day moving average price is $5.44. The firm has a market cap of $657.52 million, a P/E ratio of 7.64 and a beta of 1.47. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.67.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a $0.16 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 12.70%. BrightSpire Capital's dividend payout ratio is presently -114.29%.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors and hedge funds have recently bought and sold shares of BRSP. Bank of New York Mellon Corp grew its position in BrightSpire Capital by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company's stock valued at $2,018,000 after buying an additional 2,798 shares in the last quarter. Atria Investments Inc grew its position in BrightSpire Capital by 18.2% in the 4th quarter. Atria Investments Inc now owns 35,869 shares of the company's stock valued at $202,000 after buying an additional 5,531 shares in the last quarter. Raymond James Financial Inc. bought a new position in BrightSpire Capital in the 4th quarter valued at about $315,000. Cibc World Markets Corp acquired a new stake in BrightSpire Capital in the 4th quarter valued at about $68,000. Finally, Intech Investment Management LLC lifted its holdings in BrightSpire Capital by 96.2% in the 4th quarter. Intech Investment Management LLC now owns 57,108 shares of the company's stock valued at $322,000 after acquiring an additional 27,996 shares during the last quarter. Institutional investors own 56.57% of the company's stock.

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.