BrightSpire Capital (NYSE:BRSP) Shares Gap Up – What’s Next?

BrightSpire Capital, Inc. (NYSE:BRSP)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.25, but opened at $5.45. BrightSpire Capital shares last traded at $5.67, with a volume of 208,341 shares.

Analyst Ratings Changes

Several research firms have recently commented on BRSP. BTIG Research reissued a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. JMP Securities reiterated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

BrightSpire Capital Trading Down 2.1 %

The company has a market cap of $794.22 million, a price-to-earnings ratio of -5.96 and a beta of 1.89. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average price is $5.67 and its 200-day moving average price is $5.89.

Institutional Investors Weigh In On BrightSpire Capital

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after purchasing an additional 873,407 shares during the period. Private Advisor Group LLC lifted its holdings in shares of BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock worth $2,775,000 after buying an additional 340,563 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of BrightSpire Capital by 34.7% during the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after buying an additional 275,175 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of BrightSpire Capital by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after acquiring an additional 4,269 shares during the period. Finally, Renaissance Technologies LLC increased its position in BrightSpire Capital by 50.1% during the second quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock worth $1,677,000 after acquiring an additional 98,236 shares during the period. 56.57% of the stock is currently owned by institutional investors and hedge funds.

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.