B. Riley Issues Pessimistic Forecast for BrightSpire Capital (NYSE:BRSP) Stock Price

BrightSpire Capital (NYSE:BRSP) had its price target cut by analysts at B. Riley from $10.00 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price target would indicate a potential upside of 52.54% from the company’s current price.

Separately, JMP Securities reaffirmed 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, BrightSpire Capital presently has an average rating of “Hold” and a consensus target price of $7.50.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $5.90 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. BrightSpire Capital has a 1 year low of $5.07 and a 1 year high of $7.71. The stock’s 50 day simple moving average is $6.11 and its two-hundred day simple moving average is $5.89. The company has a market cap of $765.14 million, a price-to-earnings ratio of -5.78 and a beta of 1.88.

Hedge Funds Weigh In On BrightSpire Capital

Several large investors have recently modified their holdings of BRSP. Bank of New York Mellon Corp increased its position in shares of BrightSpire Capital by 10.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock valued at $2,596,000 after purchasing an additional 42,553 shares during the last quarter. Private Advisor Group LLC grew its position in BrightSpire Capital by 232.7% in the 2nd quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock valued at $2,775,000 after acquiring an additional 340,563 shares during the last quarter. Oak Thistle LLC bought a new position in BrightSpire Capital in the 2nd quarter valued at $68,000. PFG Investments LLC grew its position in BrightSpire Capital by 3.3% in the 2nd quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock valued at $458,000 after acquiring an additional 2,570 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in BrightSpire Capital in the 2nd quarter valued at $1,844,000. 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.