Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) Target Price at $7.00

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.50.

Several brokerages have recently weighed in on BRSP. JMP Securities reaffirmed a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a research note on Thursday, September 19th. B. Riley lowered their price target on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday.

BrightSpire Capital Price Performance

Shares of NYSE BRSP opened at $5.68 on Tuesday. The company has a fifty day moving average price of $6.10 and a 200 day moving average price of $5.89. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $7.71. The firm has a market cap of $736.61 million, a PE ratio of -5.57 and a beta of 1.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 11.27%. BrightSpire Capital’s payout ratio is -62.75%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of BRSP. Avior Wealth Management LLC boosted its stake in shares of BrightSpire Capital by 363.1% during the 3rd quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock worth $52,000 after acquiring an additional 7,265 shares during the period. ORG Partners LLC acquired a new stake in BrightSpire Capital during the 3rd quarter valued at $53,000. McAdam LLC bought a new position in BrightSpire Capital during the third quarter worth $58,000. EverSource Wealth Advisors LLC raised its position in shares of BrightSpire Capital by 5,602.8% in the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock valued at $59,000 after purchasing an additional 10,085 shares during the period. Finally, Oak Thistle LLC bought a new position in shares of BrightSpire Capital in the second quarter valued at about $68,000. 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.