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

BrightSpire Capital, Inc. (NYSE:BRSP) 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BTIG Research reissued a “neutral” rating on shares of BrightSpire Capital in a research report on Friday, July 19th. JMP Securities reissued a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, BrightSpire Capital presently has a consensus rating of “Hold” and an average target price of $7.00.

BrightSpire Capital Trading Down 2.9 %

The company has a market cap of $731.56 million, a PE ratio of -10.49 and a beta of 1.89. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average of $5.81 and a two-hundred day moving average of $6.08.

BrightSpire Capital Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 11.43%. BrightSpire Capital’s payout ratio is -116.36%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of BrightSpire Capital in the fourth quarter worth about $6,726,000. Capstone Investment Advisors LLC purchased a new position in shares of BrightSpire Capital during the fourth quarter worth about $149,000. Vanguard Group Inc. increased its position in shares of BrightSpire Capital by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after purchasing an additional 873,407 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in BrightSpire Capital in the fourth quarter valued at approximately $164,000. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of BrightSpire Capital during the 4th quarter valued at $316,000. 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.