Shares of BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.97, but opened at $5.56. BrightSpire Capital shares last traded at $5.71, with a volume of 201,519 shares changing hands.
The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $17.46 million during the quarter, compared to analysts' expectations of $65.81 million. BrightSpire Capital had a positive return on equity of 9.44% and a negative net margin of 69.35%. During the same period last year, the firm posted $0.28 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date was Tuesday, December 31st. BrightSpire Capital's payout ratio is -62.75%.
A number of equities analysts have weighed in on the company. B. Riley decreased their target price on BrightSpire Capital from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Alliance Global Partners began coverage on shares of BrightSpire Capital in a research report on Friday, January 17th. They set a "buy" rating and a $7.25 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $7.45.
Read Our Latest Stock Report on BrightSpire Capital
Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in BrightSpire Capital by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company's stock valued at $2,018,000 after purchasing an additional 2,798 shares during the period. Allegiance Financial Group Advisory Services LLC increased its holdings in BrightSpire Capital by 30.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company's stock valued at $108,000 after buying an additional 4,434 shares during the period. Diversify Advisory Services LLC raised its stake in BrightSpire Capital by 27.9% in the third quarter. Diversify Advisory Services LLC now owns 25,131 shares of the company's stock worth $134,000 after buying an additional 5,482 shares in the last quarter. Atria Investments Inc lifted its holdings in BrightSpire Capital by 18.2% during the fourth quarter. Atria Investments Inc now owns 35,869 shares of the company's stock worth $202,000 after buying an additional 5,531 shares during the period. Finally, Gallagher Fiduciary Advisors LLC boosted its position in BrightSpire Capital by 18.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 36,164 shares of the company's stock valued at $204,000 after acquiring an additional 5,749 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company's stock.
The firm has a market capitalization of $742.42 million, a PE ratio of -5.61 and a beta of 1.88. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average price of $5.81 and a 200-day moving average price of $5.81.
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.
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