BrightSpire Capital (NYSE:BRSP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded BrightSpire Capital from “hold” to “sell,” while analyst opinions remain mixed. The stock has an overall “Hold” consensus rating and a $6.50 average price target.
• BrightSpire’s latest quarterly results fell short of expectations, with earnings per share of $0.13 versus a $0.15 consensus estimate and revenue of $48.70 million versus $64.31 million expected.
• Shares opened at $5.12, near the lower end of their 52-week range of $4.85 to $6.16. Institutional investors own approximately 56.57% of the company.

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

Several other brokerages have also commented on BRSP. JonesTrading restated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Weiss Ratings lowered BrightSpire Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 26th. BTIG Research upgraded BrightSpire Capital from a "neutral" rating to a "buy" rating and set a $7.00 target price on the stock in a research report on Wednesday, April 22nd. Finally, B. Riley Financial cut their target price on BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, BrightSpire Capital presently has an average rating of "Hold" and a consensus price target of $6.50.

BrightSpire Capital Stock Up 1.3%

BrightSpire Capital stock opened at $5.12 on Friday. The company has a 50-day simple moving average of $5.39 and a 200-day simple moving average of $5.65. The firm has a market capitalization of $647.15 million, a P/E ratio of -22.24 and a beta of 1.29. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83. BrightSpire Capital has a one year low of $4.85 and a one year high of $6.16.

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 firm had revenue of $48.70 million during the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. As a group, equities analysts expect that BrightSpire Capital will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. boosted its stake in BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company's stock valued at $27,000 after purchasing an additional 1,798 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of BrightSpire Capital in the 1st quarter worth $32,000. Axiom Investment Management LLC acquired a new stake in shares of BrightSpire Capital in the first quarter valued at $33,000. National Bank of Canada FI lifted its holdings in shares of BrightSpire Capital by 50.0% in the third quarter. National Bank of Canada FI now owns 7,500 shares of the company's stock valued at $41,000 after buying an additional 2,500 shares during the period. Finally, KBC Group NV bought a new position in BrightSpire Capital during the first quarter valued at about $48,000. 56.57% of the stock is currently owned by institutional investors.

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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