BrightSpire Capital, Inc. (NYSE:BRSP) Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,432,343 shares of the company’s stock after buying an additional 45,507 shares during the quarter. BrightSpire Capital accounts for 1.3% of Private Management Group Inc.’s investment portfolio, making the stock its 23rd largest position. Private Management Group Inc. owned approximately 3.41% of BrightSpire Capital worth $32,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BRSP. Alpine Global Management LLC increased its stake in shares of BrightSpire Capital by 449.0% during the third quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock worth $1,972,000 after buying an additional 257,619 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of BrightSpire Capital by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,446,629 shares of the company’s stock valued at $9,056,000 after purchasing an additional 73,396 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BrightSpire Capital by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,480,508 shares of the company’s stock worth $78,128,000 after purchasing an additional 71,369 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of BrightSpire Capital by 6.2% during the third quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock worth $322,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in BrightSpire Capital by 14.5% in the third quarter. Penserra Capital Management LLC now owns 79,744 shares of the company’s stock valued at $499,000 after buying an additional 10,070 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of BrightSpire Capital from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 22nd. Bank of America lowered BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a report on Monday, March 4th.

BrightSpire Capital Stock Performance

NYSE BRSP traded up $0.08 during trading hours on Tuesday, hitting $6.50. 288,837 shares of the stock were exchanged, compared to its average volume of 725,680. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.62. The company has a market cap of $849.16 million, a price-to-earnings ratio of -50.00 and a beta of 1.89. BrightSpire Capital, Inc. has a 12-month low of $5.20 and a 12-month high of $8.01. The stock has a 50-day moving average of $6.67 and a 200 day moving average of $6.76.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 annualized dividend and a yield of 12.31%. BrightSpire Capital’s payout ratio is currently -615.38%.

Insider Activity

In other BrightSpire Capital news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the sale, the insider now owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.06% of the company’s stock.

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.