Jones Trading keeps Buy rating on BrightSpire Capital with $6.25 price target

what happened

Jones Trading has kept its Buy rating on BrightSpire Capital shares and set a price target of $6.25. According to TradingView, citing the analyst note and Benzinga data, the target implies an upside of 70.8% from the October 28 close of $3.66.

The main argument in the note is adjusted earnings per share of $0.14, which exceeded both Jones Trading's own estimate and the consensus. The note also points out that the shares trade at 0.48 times undepreciated book value and offer a dividend yield of 17.0%. Dow Jones Newswires reported that the same day's action cut the target from $6.50 to $6.25.

why it matters

For the broader market this is a routine event: a single broker rating on one small company. Interest in the stock comes from its low valuation against book value and its high dividend yield, which appeal to income-focused investors. The conflicting description of the target change between sources is worth keeping in mind when reading the reports.

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