BrightSpire Capital (NYSE:BRSP) Sets New 52-Week Low - Here's Why

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $5.07 and last traded at $5.10, with a volume of 152356 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BRSP shares. Alliance Global Partners started coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They issued a "buy" rating and a $7.25 target price on the stock. B. Riley reduced their target price on BrightSpire Capital from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.69.

BrightSpire Capital Trading Up 4.8 %

The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The business's 50-day moving average is $5.79 and its two-hundred day moving average is $5.83. The firm has a market cap of $617.30 million, a P/E ratio of -4.53 and a beta of 1.54.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last announced its quarterly 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 company had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, analysts expect that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 13.45%. The ex-dividend date of this dividend is Monday, March 31st. BrightSpire Capital's payout ratio is -60.95%.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors have recently modified their holdings of BRSP. Jane Street Group LLC boosted its stake in BrightSpire Capital by 19.7% during the 3rd quarter. Jane Street Group LLC now owns 193,470 shares of the company's stock valued at $1,083,000 after purchasing an additional 31,865 shares during the period. Y Intercept Hong Kong Ltd boosted 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 buying an additional 36,579 shares during the period. Barclays PLC grew 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 in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $17,267,000 after buying an additional 14,606 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC acquired a new stake in BrightSpire Capital in the 3rd quarter valued at approximately $75,000. 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.