BrightSpire Capital (NYSE:BRSP) Shares Gap Up – Should You Buy?

BrightSpire Capital, Inc. (NYSE:BRSP) gapped up prior to trading on Wednesday . The stock had previously closed at $5.25, but opened at $5.45. BrightSpire Capital shares last traded at $5.67, with a volume of 208,341 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BRSP. BTIG Research reaffirmed a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. JMP Securities reiterated a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

BrightSpire Capital Price Performance

The company has a market capitalization of $762.87 million, a PE ratio of -5.64 and a beta of 1.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46. The stock’s 50 day simple moving average is $5.65 and its 200-day simple moving average is $5.89.

Institutional Investors Weigh In On BrightSpire Capital

Large investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC increased its position in shares of BrightSpire Capital by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $150,000 after acquiring an additional 1,800 shares during the period. ProShare Advisors LLC raised its position in BrightSpire Capital by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 23,160 shares of the company’s stock valued at $160,000 after purchasing an additional 1,821 shares in the last quarter. PFG Investments LLC boosted its stake in shares of BrightSpire Capital by 3.3% in the 2nd 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. The Manufacturers Life Insurance Company grew its position in shares of BrightSpire Capital by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after buying an additional 3,608 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of BrightSpire Capital by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock worth $727,000 after buying an additional 4,269 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.