The stock of BrightSpire Capital Inc. (NYSE:BRSP) last traded at $6.71, down -6.02% from the previous session.
Data from the available sources indicates that BrightSpire Capital Inc. (NYSE:BRSP) is covered by 6 analysts. 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 $7.14, this indicates a potential upside of 22.55 percent. BRSP stock price is now 0.30% away from the 50-day moving average and 1.06% away from the 200-day moving average. The market capitalization of the company currently stands at $852.10M.
In total, 3 analysts have assigned it a hold rating, and 2 have given it a buy rating. 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 $0.53 million. Insiders disposed of 35,202,030 shares of company stock worth roughly $236.21 million over the past 1 year. A total of 1.98% 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 $37,800,000. WOLF HILL CAPITAL MANAGEMENT, LP invested $18,432,000 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 $14,110,000. NEUBERGER BERMAN GROUP LLC acquired a new stake in BRSP for approximately $10,065,000. DISCOVERY CAPITAL MANAGEMENT, LLC / CT purchased a new stake in BRSP valued at around $5,207,000 in the second quarter.
With an opening price of $7.15 on Wednesday morning, BrightSpire Capital Inc. (NYSE: BRSP) set off the trading day. 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 $6.71 and a two-hundred day moving average price translates $6.64 for the stock.
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 11.92% 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%.
