UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in BrightSpire Capital, Inc. (NYSE:BRSP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 6.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 213,854 shares of the company’s stock after selling 15,541 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BrightSpire Capital were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of BrightSpire Capital by 10.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock valued at $2,596,000 after purchasing an additional 42,553 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in BrightSpire Capital by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,893 shares of the company’s stock worth $222,000 after buying an additional 4,683 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of BrightSpire Capital during the 2nd quarter valued at about $426,000. Anfield Capital Management LLC bought a new position in shares of BrightSpire Capital during the 2nd quarter valued at approximately $89,000. Finally, Van ECK Associates Corp raised its stake in BrightSpire Capital by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after acquiring an additional 275,175 shares during the period. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $7.50 price objective on shares of BrightSpire Capital in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, BrightSpire Capital presently has an average rating of “Hold” and a consensus target price of $7.00.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $6.20 on Wednesday. The business’s 50 day moving average price is $5.98 and its 200-day moving average price is $5.90. The company has a market cap of $804.05 million, a P/E ratio of -6.08 and a beta of 1.87. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. BrightSpire Capital, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $8.01.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date of this dividend is Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

About BrightSpire Capital

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.