BrightSpire Capital's (BRSP) "Buy" Rating Reaffirmed at JonesTrading

Key Points

• JonesTrading reaffirmed a “Buy” rating on BrightSpire Capital and set a $6.50 price target, implying 31.71% upside from the stock’s $4.93 price. BTIG also upgraded the shares to “Buy” with a $7.00 target, though analyst consensus remains “Hold.”
• BrightSpire’s latest quarterly results fell short of expectations: earnings were $0.13 per share versus $0.15 expected, while revenue came in at $55.40 million versus a $64.31 million consensus estimate.
• The commercial real estate debt REIT has a $642.93 million market capitalization, and institutional investors and hedge funds own 56.57% of its shares.

BrightSpire Capital (NYSE:BRSP - Get Free Report)'s stock had its "buy" rating reiterated by analysts at JonesTrading in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.50 price objective on the stock. JonesTrading's price objective indicates a potential upside of 31.71% from the company's current price.

BRSP has been the topic of a number of other reports. BTIG Research upgraded BrightSpire Capital from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Wednesday, April 22nd. Weiss Ratings cut BrightSpire Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, BrightSpire Capital has an average rating of "Hold" and an average price target of $6.75.

BrightSpire Capital Price Performance

BRSP traded down $0.30 during midday trading on Wednesday, reaching $4.93. 1,839,968 shares of the company's stock were exchanged, compared to its average volume of 1,105,424. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. The business has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $5.70. The firm has a market capitalization of $642.93 million, a price-to-earnings ratio of -18.39 and a beta of 1.28. BrightSpire Capital has a one year low of $4.91 and a one year high of $6.16.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last released 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 company had revenue of $55.40 million during the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. As a group, research analysts predict that BrightSpire Capital will post 0.51 EPS for the current year.

Institutional Trading of BrightSpire Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. lifted its position 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 worth $27,000 after buying an additional 1,798 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of BrightSpire Capital during the first quarter valued at approximately $32,000. Axiom Investment Management LLC bought a new stake in shares of BrightSpire Capital during the first quarter valued at approximately $33,000. National Bank of Canada FI increased 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 purchasing an additional 2,500 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of BrightSpire Capital in the first quarter valued at approximately $48,000. 56.57% of the stock is currently owned by institutional investors and hedge funds.

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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