BrightSpire Capital (NYSE:BRSP) Hits New 12-Month Low - Here's What Happened

Key Points

• BrightSpire Capital shares hit a new 52-week low, falling to $4.40 during Monday trading compared with the prior close of $4.45.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $6.50, with four Buy ratings and two Sell ratings.
• The company’s latest quarter came in below expectations, reporting $0.13 in earnings per share versus a $0.15 estimate and revenue of $48.70 million versus the $64.31 million consensus.

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $4.40 and last traded at $4.4150, with a volume of 87992 shares changing hands. The stock had previously closed at $4.45.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of BrightSpire Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, September 1st. B. Riley Financial lowered their price objective on shares of BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating on the stock in a research note on Thursday, July 30th. JonesTrading reissued a "buy" rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 29th. Finally, Weiss Ratings downgraded BrightSpire Capital from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.50.

BrightSpire Capital Price Performance

The stock has a 50 day moving average of $5.01 and a two-hundred day moving average of $5.46. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $562.38 million, a PE ratio of -19.28, a PEG ratio of 3.17 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. The firm had revenue of $48.70 million for the quarter, compared to analysts' expectations of $64.31 million. Equities analysts anticipate that BrightSpire Capital, Inc. will post 0.47 EPS for the current year.

Institutional Trading of BrightSpire Capital

Several large investors have recently added to or reduced their stakes in the company. North Ground Capital boosted its position in shares of BrightSpire Capital by 21.2% in the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company's stock worth $17,105,000 after buying an additional 534,552 shares during the period. Goldman Sachs Group Inc. raised its position in BrightSpire Capital by 13.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company's stock valued at $15,996,000 after buying an additional 348,931 shares during the period. Punch & Associates Investment Management Inc. raised its position in BrightSpire Capital by 13.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company's stock valued at $12,684,000 after buying an additional 284,046 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BrightSpire Capital by 7.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company's stock worth $12,465,000 after acquiring an additional 159,705 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in BrightSpire Capital by 15.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company's stock worth $12,557,000 after acquiring an additional 305,264 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire's investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.

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