Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) Target Price at $7.45

BrightSpire Capital, Inc. (NYSE:BRSP) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.45.

BRSP has been the subject of a number of analyst reports. Alliance Global Partners assumed coverage on BrightSpire Capital in a report on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. B. Riley dropped their target price on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position 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 buying an additional 3,608 shares during the last quarter. Sei Investments Co. boosted its holdings in BrightSpire Capital by 14.4% during the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after purchasing an additional 4,500 shares during the last quarter. Diversify Advisory Services LLC raised its position in shares of BrightSpire Capital by 27.9% in the third quarter. Diversify Advisory Services LLC now owns 25,131 shares of the company’s stock valued at $134,000 after purchasing an additional 5,482 shares during the period. Avior Wealth Management LLC increased its holdings in BrightSpire Capital by 363.1% in the 3rd quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock valued at $52,000 after buying an additional 7,265 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of BrightSpire Capital by 34.5% in the 3rd quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock valued at $170,000 after purchasing an additional 7,779 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BRSP opened at $5.56 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $7.04. The firm has a market capitalization of $720.37 million, a PE ratio of -5.45 and a beta of 1.88. The firm has a 50-day moving average price of $5.92 and a 200 day moving average price of $5.84.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date of this dividend was Tuesday, December 31st. BrightSpire Capital’s payout ratio is -62.75%.

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.