BrightSpire Capital price target lowered to $6.50 from $7.50 at Citizens JMP

Citizens JMP lowered the firm’s price target on BrightSpire Capital (BRSP) to $6.50 from $7.50 and keeps an Outperform rating on the shares as part of an earnings preview report on the Commercial Mortgage REIT/Commercial Real Estate Finance sector. The firm was not surprised to see Mortgage REITs generally outperform other Equity Market Indices to start 2025 with a lower interest rate outlook in the first quarter, the analyst tells investors in a research note. Citizens adds that the biggest driver of CMREIT valuations is currently the interest rate policy from the Federal Reserve, but recessionary fears have weighed on valuations since the beginning of April.