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

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) gapped down before the market opened 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.

Analyst Upgrades and Downgrades

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

BrightSpire Capital Stock Performance

The company’s 50-day moving average price is $6.08 and its 200 day moving average price is $6.68. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $731.58 million, a PE ratio of -10.18 and a beta of 1.90.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Wednesday, May 1st. The company reported $0.21 EPS 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 company had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities research analysts expect that BrightSpire Capital, Inc. will post 0.79 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently declared 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 is Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a yield of 14.29%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -145.45%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares during the period. Private Management Group Inc. raised its holdings in BrightSpire Capital by 0.4% in the first quarter. Private Management Group Inc. now owns 4,449,454 shares of the company’s stock worth $30,657,000 after buying an additional 17,111 shares during the last quarter. Federated Hermes Inc. raised its holdings in BrightSpire Capital by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock worth $11,620,000 after buying an additional 59,342 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in BrightSpire Capital by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock worth $11,086,000 after buying an additional 43,415 shares during the last quarter. Finally, Norges Bank purchased a new position in BrightSpire Capital in the fourth quarter worth about $6,726,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

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.