BrightSpire Capital (NYSE:BRSP) Shares Gap Down - Here's What Happened

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

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

BrightSpire Capital Price Performance

The firm has a fifty day moving average of $5.18 and a two-hundred day moving average of $5.42. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $656.21 million, a PE ratio of -8.98 and a beta of 1.47.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 12.72%. The ex-dividend date is Monday, June 30th. BrightSpire Capital's dividend payout ratio is -114.29%.

Institutional Investors Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings 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 worth $2,018,000 after acquiring an additional 2,798 shares during the last quarter. Atria Investments Inc grew its stake in shares of BrightSpire Capital by 18.2% in the fourth quarter. Atria Investments Inc now owns 35,869 shares of the company's stock worth $202,000 after purchasing an additional 5,531 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of BrightSpire Capital in the fourth quarter worth about $315,000. Cibc World Markets Corp purchased a new position in BrightSpire Capital during the 4th quarter valued at about $68,000. Finally, Intech Investment Management LLC raised its position in BrightSpire Capital by 96.2% during the 4th quarter. Intech Investment Management LLC now owns 57,108 shares of the company's stock valued at $322,000 after purchasing an additional 27,996 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors.

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.