Raymond James Lowers BrightSpire Capital (NYSE:BRSP) to Market Perform

BrightSpire Capital (NYSE:BRSP - Get Free Report) was downgraded by equities researchers at Raymond James from an "outperform" rating to a "market perform" rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

BRSP has been the subject of several other reports. Barclays decreased their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday. Bank of America cut shares of BrightSpire Capital from a "neutral" rating to an "underperform" rating and set a $6.50 price objective for the company. in a report on Monday, March 4th.

BrightSpire Capital Stock Down 2.4 %

NYSE:BRSP traded down $0.14 during mid-day trading on Friday, hitting $6.03. 1,352,476 shares of the company's stock were exchanged, compared to its average volume of 730,532. BrightSpire Capital has a one year low of $5.20 and a one year high of $8.01. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. The business has a fifty day moving average price of $6.61 and a 200 day moving average price of $6.76. The company has a market cap of $787.11 million, a PE ratio of -11.20 and a beta of 1.89.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). BrightSpire Capital had a positive return on equity of 9.15% and a negative net margin of 33.20%. The business had revenue of $27.43 million for the quarter, compared to the consensus estimate of $28.64 million. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts predict that BrightSpire Capital will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other BrightSpire Capital news, insider David A. Palame sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the transaction, the insider now directly owns 347,832 shares in the company, valued at $2,351,344.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.91% of the company's stock.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in BrightSpire Capital by 2,407.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company's stock valued at $41,000 after purchasing an additional 5,753 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of BrightSpire Capital in the fourth quarter valued at $45,000. SG Americas Securities LLC purchased a new stake in shares of BrightSpire Capital in the third quarter valued at $63,000. Arlington Trust Co LLC purchased a new stake in shares of BrightSpire Capital in the fourth quarter valued at $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of BrightSpire Capital in the third quarter valued at $75,000. 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.