BrightSpire Capital (NYSE:BRSP) Given New $9.00 Price Target at B. Riley

BrightSpire Capital (NYSE:BRSP) had its price objective lowered by B. Riley from $10.00 to $9.00 in a research report report published on Tuesday,Benzinga reports. The brokerage 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 report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

BrightSpire Capital Trading Down 2.7 %

NYSE BRSP opened at $5.74 on Tuesday. The business has a 50 day moving average price of $6.12 and a 200-day moving average price of $5.89. BrightSpire Capital has a 52 week low of $5.07 and a 52 week high of $7.71. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The company has a market cap of $744.39 million, a price-to-earnings ratio of -5.63 and a beta of 1.88.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 11.15%. 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 large investors have recently added to or reduced their stakes in BRSP. Garden State Investment Advisory Services LLC bought a new position in BrightSpire Capital during the third quarter worth about $75,000. Barclays PLC boosted its holdings in BrightSpire Capital by 329.1% in the 3rd quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after buying an additional 152,131 shares during the period. Geode Capital Management LLC grew its stake in BrightSpire Capital by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,082,637 shares of the company’s stock valued at $17,267,000 after buying an additional 14,606 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of BrightSpire Capital by 27.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 170,967 shares of the company’s stock worth $957,000 after acquiring an additional 36,579 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of BrightSpire Capital by 19.7% in the third quarter. Jane Street Group LLC now owns 193,470 shares of the company’s stock worth $1,083,000 after acquiring an additional 31,865 shares during the period. 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.