The price of BrightSpire Capital Inc. (NYSE:BRSP) shares last traded on Wall Street rose 2.53% to $6.90.
Based on available information, 6 analysts follow BrightSpire Capital Inc. (NYSE:BRSP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $6.50, we find $8.75. Given the previous closing price of $6.73, this indicates a potential upside of 30.01 percent. BRSP stock price is now 14.90% away from the 50-day moving average and 3.89% away from the 200-day moving average. The market capitalization of the company currently stands at $903.21M.
Among analysts, 3 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $8.50 as their price target over the next twelve months.
In other news, DigitalBridge Group, Inc., 10% Owner sold 34,911,944 shares of the company’s stock on Mar 01. The stock was sold for $209,471,664 at an average price of $6.00. Upon completion of the transaction, the 10% Owner now directly owns 79,001 shares in the company, valued at $0.55 million. Insiders disposed of 35,202,030 shares of company stock worth roughly $242.89 million over the past 1 year. A total of 1.91% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BRSP stock. A new stake in BrightSpire Capital Inc. shares was purchased by CONVERSANT CAPITAL LLC during the first quarter worth $38,081,000. WOLF HILL CAPITAL MANAGEMENT, LP invested $18,569,000 in shares of BRSP during the first quarter. In the first quarter, ZIMMER PARTNERS, LP acquired a new stake in BrightSpire Capital Inc. valued at approximately $14,216,000. NEUBERGER BERMAN GROUP LLC acquired a new stake in BRSP for approximately $10,140,000. DISCOVERY CAPITAL MANAGEMENT, LLC / CT purchased a new stake in BRSP valued at around $5,246,000 in the second quarter. In total, there are 249 active investors with 64.30% ownership of the company’s stock.
A candlestick chart of BrightSpire Capital Inc. (NYSE: BRSP) showed a price of $6.73 on Monday morning. During the past 12 months, BrightSpire Capital Inc. has had a low of $5.21 and a high of $9.45. The fifty day moving average price for BRSP is $6.01 and a two-hundred day moving average price translates $6.64 for the stock.
The latest earnings results from BrightSpire Capital Inc. (NYSE: BRSP) was released for Mar, 2023. According to the REIT – Diversified Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.25 by 0.02. This compares to $0.21 EPS in the same period last year. The net profit margin was 3.40% and return on equity was 1.00% for BRSP. The company reported revenue of $58.56 million for the quarter, compared to $53.83 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.79 percent. For the current quarter, analysts expect BRSP to generate $33.25M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/30/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 11.59% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, BRSP is presently at 743.30%.
BrightSpire Capital Inc.(BRSP) Company Profile
BrightSpire Capital, Inc. operates as a commercial real estate (CRE) credit real estate investment trust in the United States. The company It focuses on originating, acquiring, financing, and managing a portfolio of CRE mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties. It qualifies as a real estate investment trust for federal income tax purposes. The company was formerly known as Colony Credit Real Estate, Inc. and changed its name to BrightSpire Capital, Inc. in June 2021. BrightSpire Capital, Inc. was incorporated in 2017 and is headquartered in New York, New York.
