Commonwealth Equity Services LLC Lowers Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Commonwealth Equity Services LLC cut its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,393 shares of the company’s stock after selling 3,287 shares during the quarter. Commonwealth Equity Services LLC’s holdings in BrightSpire Capital were worth $561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRSP. Winthrop Advisory Group LLC bought a new position in shares of BrightSpire Capital in the fourth quarter worth approximately $61,000. Fermata Advisors LLC bought a new stake in shares of BrightSpire Capital during the 4th quarter valued at $65,000. Atria Wealth Solutions Inc. purchased a new position in shares of BrightSpire Capital during the 4th quarter valued at $72,000. Garden State Investment Advisory Services LLC bought a new position in BrightSpire Capital in the 3rd quarter worth $75,000. Finally, Allegiance Financial Group Advisory Services LLC increased its stake in BrightSpire Capital by 30.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company’s stock worth $108,000 after buying an additional 4,434 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. B. Riley lowered their price objective on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Alliance Global Partners assumed coverage on BrightSpire Capital in a report on Friday, January 17th. They issued a “buy” rating and a $7.25 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, BrightSpire Capital has an average rating of “Moderate Buy” and an average target price of $7.69.

BrightSpire Capital Stock Performance

Shares of NYSE BRSP opened at $5.02 on Friday. The firm’s fifty day moving average is $5.86 and its two-hundred day moving average is $5.87. BrightSpire Capital, Inc. has a 52-week low of $4.93 and a 52-week high of $6.71. The company has a market cap of $650.37 million, a P/E ratio of -4.78 and a beta of 1.98. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Tuesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The firm had revenue of $17.46 million during the quarter, compared to analysts’ expectations of $65.81 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts anticipate that BrightSpire Capital, Inc. will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.16 per share. The ex-dividend date is Monday, March 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.76%. BrightSpire Capital’s dividend payout ratio is currently -60.95%.

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.