BrightSpire Capital (NYSE:BRSP) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded BrightSpire Capital from “sell” to “hold,” while the broader analyst consensus remains “Hold” with a $6.50 price target.
• BRSP shares opened at $5.00, within a 12-month range of $4.85 to $6.16. The stock’s 50-day and 200-day moving averages were $5.33 and $5.62, respectively.
• BrightSpire reported quarterly EPS of $0.13, below the $0.15 consensus estimate, while revenue of $48.70 million also missed expectations of $64.31 million; institutional investors own 56.57% of the stock.

BrightSpire Capital (NYSE:BRSP - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

Other equities analysts have also recently issued reports about the company. B. Riley Financial decreased their target price on BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating on the stock in a report on Thursday, July 30th. BTIG Research raised BrightSpire Capital from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd. JonesTrading reiterated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Finally, Weiss Ratings cut BrightSpire Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 26th. Four equities research 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, BrightSpire Capital currently has an average rating of "Hold" and a consensus price target of $6.50.

BrightSpire Capital Price Performance

BRSP stock opened at $5.00 on Friday. The company has a market cap of $631.97 million, a PE ratio of -21.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.29. BrightSpire Capital has a 12-month low of $4.85 and a 12-month high of $6.16. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a 50-day moving average price of $5.33 and a two-hundred day moving average price of $5.62.

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

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its position in shares of BrightSpire Capital by 59.2% in the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company's stock worth $27,000 after buying an additional 1,798 shares during the period. Cerity Partners LLC raised its position in BrightSpire Capital by 9.1% during the fourth quarter. Cerity Partners LLC now owns 29,807 shares of the company's stock valued at $167,000 after buying an additional 2,480 shares during the period. National Bank of Canada FI lifted its stake in BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company's stock worth $41,000 after acquiring an additional 2,500 shares in the last quarter. M&T Bank Corp lifted its stake in BrightSpire Capital by 22.5% in the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company's stock worth $69,000 after acquiring an additional 2,501 shares in the last quarter. Finally, Abel Hall LLC lifted its stake in BrightSpire Capital by 7.5% in the 4th quarter. Abel Hall LLC now owns 44,536 shares of the company's stock worth $249,000 after acquiring an additional 3,123 shares in the last quarter. 56.57% of the stock is currently owned by hedge funds and other 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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