BrightSpire Capital (NYSE:BRSP) Coverage Initiated at Alliance Global Partners

Alliance Global Partners began coverage on shares of BrightSpire Capital (NYSE:BRSP) in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.25 price objective on the stock.

Several other research firms also recently issued reports on BRSP. B. Riley cut their price objective on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.45.

BrightSpire Capital Stock Up 1.5 %

Shares of BrightSpire Capital stock opened at $5.78 on Friday. BrightSpire Capital has a 12-month low of $5.07 and a 12-month high of $7.71. The firm has a market capitalization of $748.93 million, a PE ratio of -5.66 and a beta of 1.88. 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 stock’s fifty day moving average is $6.05 and its 200-day moving average is $5.88.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.08%. BrightSpire Capital’s dividend payout ratio is -62.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings 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 valued at $52,000 after buying an additional 7,265 shares during the last quarter. ORG Partners LLC acquired a new position in BrightSpire Capital in the third quarter worth approximately $53,000. McAdam LLC bought a new position in BrightSpire Capital during the third quarter valued at approximately $58,000. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 10,085 shares during the last quarter. Finally, Winthrop Advisory Group LLC bought a new stake in BrightSpire Capital in the fourth quarter worth approximately $61,000. 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.