B. Riley Cuts BrightSpire Capital (NYSE:BRSP) Price Target to $9.00

BrightSpire Capital (NYSE:BRSP) had its price objective trimmed by B. Riley from $10.00 to $9.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, JMP Securities reiterated a “market outperform” rating and set a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.50.

BrightSpire Capital Stock Performance

BrightSpire Capital stock opened at $5.68 on Tuesday. The stock has a market cap of $736.61 million, a price-to-earnings ratio of -5.57 and a beta of 1.88. The stock’s 50 day simple moving average is $6.10 and its two-hundred day simple moving average is $5.89. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $7.71. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 11.27%. The ex-dividend date is Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is -62.75%.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of BrightSpire Capital by 10.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock worth $2,596,000 after buying an additional 42,553 shares during the last quarter. Private Advisor Group LLC boosted its position in BrightSpire Capital by 232.7% in the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock worth $2,775,000 after purchasing an additional 340,563 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of BrightSpire Capital during the 2nd quarter valued at about $68,000. PFG Investments LLC increased its position in shares of BrightSpire Capital by 3.3% during the 2nd quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock valued at $458,000 after purchasing an additional 2,570 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of BrightSpire Capital in the 2nd quarter worth approximately $1,844,000. Hedge funds and other 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.