BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $7.00 at Barclays

BrightSpire Capital (NYSE:BRSP) had its price target decreased by stock analysts at Barclays from $8.00 to $7.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 13.64% from the stock’s previous close.

Separately, Bank of America cut shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research note on Monday, March 4th.

BrightSpire Capital Price Performance

Shares of NYSE BRSP traded down $0.07 during mid-day trading on Thursday, hitting $6.16. 150,978 shares of the stock were exchanged, compared to its average volume of 715,870. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $804.74 million, a P/E ratio of -47.15 and a beta of 1.89. The stock’s fifty day simple moving average is $6.63 and its two-hundred day simple moving average is $6.76. BrightSpire Capital has a twelve month low of $5.20 and a twelve month high of $8.01.

Insider Transactions at BrightSpire Capital

In other news, insider David A. Palame sold 50,000 shares of BrightSpire Capital stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the transaction, the insider now directly owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.91% of the company’s stock.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors have recently added to or reduced their stakes in BRSP. Alpine Global Management LLC increased its stake in BrightSpire Capital by 449.0% in the 3rd quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock valued at $1,972,000 after buying an additional 257,619 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in BrightSpire Capital by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,446,629 shares of the company’s stock valued at $9,056,000 after buying an additional 73,396 shares during the last quarter. Vanguard Group Inc. increased its stake in BrightSpire Capital by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,480,508 shares of the company’s stock valued at $78,128,000 after buying an additional 71,369 shares during the last quarter. HighTower Advisors LLC increased its stake in BrightSpire Capital by 6.2% in the 3rd quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock valued at $322,000 after buying an additional 3,000 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in BrightSpire Capital by 14.5% in the 3rd quarter. Penserra Capital Management LLC now owns 79,744 shares of the company’s stock valued at $499,000 after buying an additional 10,070 shares during the last quarter. 56.57% of the stock is owned by institutional investors.

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.