BrightSpire Capital, Inc. (NYSE:BRSP) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,005,701 shares of the company’s stock after selling 61,737 shares during the period. Van ECK Associates Corp owned approximately 0.77% of BrightSpire Capital worth $5,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRSP. Allspring Global Investments Holdings LLC increased its stake in BrightSpire Capital by 2,407.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after buying an additional 5,753 shares during the period. ORG Partners LLC acquired a new position in shares of BrightSpire Capital during the third quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its holdings in BrightSpire Capital by 5,602.8% during the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after purchasing an additional 10,085 shares in the last quarter. McAdam LLC acquired a new stake in BrightSpire Capital in the third quarter worth approximately $58,000. Finally, Founders Financial Securities LLC bought a new position in BrightSpire Capital during the 2nd quarter valued at $62,000. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Stock Performance

Shares of NYSE BRSP opened at $6.20 on Friday. The stock’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $5.88. The stock has a market capitalization of $803.37 million, a price-to-earnings ratio of -6.07 and a beta of 1.87. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. BrightSpire Capital, Inc. has a 52-week low of $5.07 and a 52-week high of $8.01.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. BTIG Research reissued a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, BrightSpire Capital presently has a consensus rating of “Hold” and an average price target of $7.00.

BrightSpire Capital Profile

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.