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

BrightSpire Capital, Inc. (NYSE:BRSP)’s share price 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 changing hands.

Analysts Set New Price Targets

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

BrightSpire Capital Price Performance

The firm’s 50-day moving average price is $6.08 and its two-hundred day moving average price is $6.68. The stock has a market cap of $731.58 million, a PE ratio of -10.18 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 announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the previous year, the company posted $0.26 EPS. On average, equities analysts expect that BrightSpire Capital, Inc. will post 0.79 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a yield of 14.29%. BrightSpire Capital’s payout ratio is -145.45%.

Institutional Investors Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC lifted its position in BrightSpire Capital by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $150,000 after acquiring an additional 1,800 shares during the last quarter. ProShare Advisors LLC lifted its position in BrightSpire Capital by 8.5% during the first quarter. ProShare Advisors LLC now owns 23,160 shares of the company’s stock valued at $160,000 after acquiring an additional 1,821 shares during the last quarter. HighTower Advisors LLC lifted its position in BrightSpire Capital by 6.2% during the third quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock valued at $322,000 after acquiring an additional 3,000 shares during the last quarter. Victory Capital Management Inc. lifted its position in BrightSpire Capital by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,155 shares of the company’s stock valued at $128,000 after acquiring an additional 3,156 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in BrightSpire Capital by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after purchasing an additional 4,269 shares in the last quarter. 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.