BrightSpire Capital (NYSE:BRSP) Shares Gap Down to $5.77

BrightSpire Capital, Inc. (NYSE:BRSP)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $5.77, but opened at $5.60. BrightSpire Capital shares last traded at $5.64, with a volume of 57,417 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on BRSP shares. JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. 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 assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

BrightSpire Capital Stock Performance

The stock has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $6.08. 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 stock has a market capitalization of $731.56 million, a price-to-earnings ratio of -10.49 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 11.43%. BrightSpire Capital’s dividend payout ratio is currently -116.36%.

Institutional Trading of BrightSpire Capital

Several hedge funds have recently modified their holdings of BRSP. Algert Global LLC acquired a new stake in BrightSpire Capital in the second quarter worth $75,000. The Manufacturers Life Insurance Company boosted its position in shares of BrightSpire Capital by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after purchasing an additional 3,608 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of BrightSpire Capital in the 2nd quarter valued at about $91,000. EverSource Wealth Advisors LLC increased its position in BrightSpire Capital by 5,602.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock valued at $59,000 after buying an additional 10,085 shares in the last quarter. Finally, Sei Investments Co. raised its stake in BrightSpire Capital by 14.4% during the 2nd quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after buying an additional 4,500 shares during the period. 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.