BrightSpire Capital Inc. (NYSE: BRSP) stock jumped 2.04% on Tuesday to $5.99 against a previous-day closing price of $5.87. With 0.85 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.64 million shares. During the session, the REIT – Diversified company that operates in wider Real Estate sector, reached to the highest price of $6.05 whereas the lowest price it dropped to was $5.84. The 52-week range on BRSP shows that it touched its highest point at $9.45 and its lowest point at $5.21 during that stretch. It currently has a 1-year price target of $8.50. With its current market cap of 778.40 million, BRSP has annualized dividend of $0.80 while the current yield stands at 13.36%. Beta for the stock currently stands at 1.70.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BRSP was up-trending over the past week, with a rise of 11.75%, but this was up by 5.09% over a month. Three-month performance dropped to -18.39% while six-month performance fell -14.91%. The stock lost -25.59% in the past year, while it has lost -3.85% so far this year. A look at the trailing 12-month EPS for BRSP yields 0.10 with Next year EPS estimates of 0.91. For the next quarter, that number is 0.24. This implies an EPS growth rate of 145.00% for this year and -4.59% for next year.
Float and Shares Shorts:
At present, 129.95 million BRSP shares are outstanding with a float of 127.37 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.63 million, which was 2.02% higher than short shares on Mar 30, 2023. In addition to Mr. Michael Joseph Mazzei as the firm’s CEO & Director, Mr. Andrew Elmore Witt serves as its Pres & COO.
Through their ownership of 39.84% of BRSP’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 29.51% of BRSP, in contrast to 23.30% held by mutual funds. Shares owned by individuals account for 20.30%. As the largest shareholder in BRSP with 7.31% of the stake, Nut Tree Capital Management LP holds 9,414,811 shares worth 9,414,811. A second-largest stockholder of BRSP, The Vanguard Group, Inc., holds 8,801,930 shares, controlling over 6.83% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BRSP, holding 7,410,115 shares or 5.75% stake. With a 2.92% stake in BRSP, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,762,826 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.48% of BRSP stock, is the second-largest Mutual Fund holder. It holds 3,194,603 shares valued at 18.21 million. Vanguard Small Cap Value Index Fu holds 1.74% of the stake in BRSP, owning 2,242,748 shares worth 12.78 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BRSP reported revenue of $84.58M and operating income of $17.09M. The EBITDA in the recently reported quarter was $51.07M and diluted EPS was $0.26.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BRSP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BRSP analysts setting a high price target of $10.00 and a low target of $6.50, the average target price over the next 12 months is $8.50. Based on these targets, BRSP could surge 66.94% to reach the target high and rise by 8.51% to reach the target low. Reaching the average price target will result in a growth of 41.9% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BRSP stock several times over the past three months with 8 Buys and 5 Sells. In these transactions, 679,689 shares were bought while 35,202,030 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 699,189 while 35,202,030 shares were sold.