BrightSpire Capital initiated with a Buy at Alliance Global Partners

Alliance Global Partners analyst Gaurav Mehta initiated coverage of BrightSpire Capital (BRSP) with a Buy rating and $7.25 price target BrightSpire is an internally managed commercial real estate credit REIT, notes the firm, whose Buy rating is based on restart of new loan originations, a balance sheet with “ample liquidity,” a dividend yield of 11.2% and risk/reward the firm views as “skewed to the upside” at the current valuation, the analyst tells investors.