BrightSpire Capital (NYSE:BRSP) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of BrightSpire Capital (NYSE:BRSP) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $7.50 price objective on the stock.

Separately, BTIG Research restated a neutral rating on shares of BrightSpire Capital in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $7.00.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $5.98 on Thursday. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $8.01. The business’s fifty day moving average is $5.88 and its 200 day moving average is $6.12. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $781.20 million, a price-to-earnings ratio of -10.87 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 10.70%. The ex-dividend date is Monday, September 30th. BrightSpire Capital’s dividend payout ratio is presently -116.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC increased its holdings in BrightSpire Capital by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $150,000 after purchasing an additional 1,800 shares during the period. ProShare Advisors LLC increased its stake in shares of BrightSpire Capital by 8.5% during the first quarter. ProShare Advisors LLC now owns 23,160 shares of the company’s stock valued at $160,000 after buying an additional 1,821 shares during the period. PFG Investments LLC increased its stake in shares of BrightSpire Capital by 3.3% during the second quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock valued at $458,000 after buying an additional 2,570 shares during the period. Victory Capital Management Inc. raised its holdings in shares of BrightSpire Capital by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,155 shares of the company’s stock valued at $128,000 after acquiring an additional 3,156 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in BrightSpire Capital by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after acquiring an additional 3,608 shares during the period. 56.57% of the stock is owned by hedge funds and other institutional investors.

About BrightSpire Capital

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.