Invesco Ltd. Boosts Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Invesco Ltd. lifted its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 7.3% in the fourth quarter, HoldingsChannel reports. The firm owned 476,508 shares of the company’s stock after purchasing an additional 32,344 shares during the quarter. Invesco Ltd.’s holdings in BrightSpire Capital were worth $2,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRSP. Winthrop Advisory Group LLC purchased a new position in shares of BrightSpire Capital in the fourth quarter valued at $61,000. Fermata Advisors LLC bought a new stake in shares of BrightSpire Capital in the 4th quarter worth about $65,000. Cibc World Markets Corp purchased a new position in shares of BrightSpire Capital during the 4th quarter worth about $68,000. Atria Wealth Solutions Inc. bought a new position in BrightSpire Capital during the 4th quarter valued at about $72,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in BrightSpire Capital in the 3rd quarter worth about $75,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BRSP. B. Riley cut their target price on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Alliance Global Partners began coverage on BrightSpire Capital in a report on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. JMP Securities dropped their price objective on BrightSpire Capital from $7.50 to $6.50 and set a “market outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Jones Trading dropped their price objective on BrightSpire Capital from $7.25 to $6.50 and set a “buy” rating for the company in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.25.

BrightSpire Capital Trading Up 4.0 %

Shares of NYSE BRSP opened at $4.96 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79. The business has a fifty day simple moving average of $5.43 and a two-hundred day simple moving average of $5.73. The firm has a market cap of $648.06 million, a PE ratio of -4.72 and a beta of 1.54. BrightSpire Capital, Inc. has a twelve month low of $4.16 and a twelve month high of $6.71.

BrightSpire Capital (NYSE:BRSP) last issued its earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $17.46 million for the quarter, compared to the consensus estimate of $65.81 million. BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. During the same period last year, the firm earned $0.28 earnings per share. Analysts expect that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 12.90%. The ex-dividend date of this dividend was Monday, March 31st. BrightSpire Capital’s payout ratio is -60.95%.

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.