BrightSpire Capital (NYSE:BRSP) Shares Gap Down to $5.81

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) gapped down prior to trading on Friday . The stock had previously closed at $5.81, but opened at $5.65. BrightSpire Capital shares last traded at $5.63, with a volume of 27,816 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Raymond James lowered shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Barclays reduced their price objective on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, Bank of America downgraded BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a report on Monday, March 4th.

BrightSpire Capital Stock Up 1.5 %

The firm’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $6.66. The company has a market cap of $744.65 million, a price-to-earnings ratio of -10.36 and a beta of 1.90. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.63.

BrightSpire Capital (NYSE:BRSP) last issued its earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. The firm had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. During the same quarter in the previous year, the firm posted $0.26 EPS. Sell-side analysts predict that BrightSpire Capital, Inc. will post 0.79 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 14.04%. The ex-dividend date is Friday, June 28th. BrightSpire Capital’s dividend payout ratio (DPR) is presently -145.45%.

Institutional Trading of BrightSpire Capital

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after acquiring an additional 873,407 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of BrightSpire Capital by 0.4% during the first quarter. Private Management Group Inc. now owns 4,449,454 shares of the company’s stock worth $30,657,000 after purchasing an additional 17,111 shares during the last quarter. Federated Hermes Inc. increased its position in shares of BrightSpire Capital by 3.9% during the fourth quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock worth $11,620,000 after purchasing an additional 59,342 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BrightSpire Capital by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock valued at $11,086,000 after purchasing an additional 43,415 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of BrightSpire Capital in the 4th quarter valued at about $6,726,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

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.