Insider Buying: BrightSpire Capital, Inc. (NYSE:BRSP) CEO Acquires 50,000 Shares of Stock

BrightSpire Capital, Inc. (NYSE:BRSPGet Rating) CEO Michael Mazzei bought 50,000 shares of BrightSpire Capital stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average price of $8.04 per share, for a total transaction of $402,000.00. Following the acquisition, the chief executive officer now directly owns 950,442 shares in the company, valued at approximately $7,641,553.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of BrightSpire Capital stock traded up $0.08 during trading on Monday, reaching $8.13. The company had a trading volume of 6,615 shares, compared to its average volume of 610,134. The firm has a market capitalization of $1.05 billion, a P/E ratio of 53.67 and a beta of 1.65. The firm’s fifty day simple moving average is $8.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.44 and a current ratio of 1.44. BrightSpire Capital, Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $10.68.

BrightSpire Capital (NYSE:BRSPGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). BrightSpire Capital had a net margin of 13.73% and a return on equity of 7.34%. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities analysts forecast that BrightSpire Capital, Inc. will post 0.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were given a $0.19 dividend. This is a boost from BrightSpire Capital’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.76 annualized dividend and a yield of 9.35%. BrightSpire Capital’s dividend payout ratio is 506.70%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stockman Wealth Management Inc. grew its position in BrightSpire Capital by 3.5% in the 1st quarter. Stockman Wealth Management Inc. now owns 41,640 shares of the company’s stock worth $385,000 after purchasing an additional 1,390 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of BrightSpire Capital by 41.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,871 shares of the company’s stock worth $50,000 after buying an additional 1,433 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of BrightSpire Capital by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 48,127 shares of the company’s stock worth $494,000 after buying an additional 1,694 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of BrightSpire Capital by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 117,340 shares of the company’s stock worth $1,204,000 after buying an additional 2,030 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of BrightSpire Capital by 5.9% in the 3rd quarter. Voya Investment Management LLC now owns 37,293 shares of the company’s stock worth $350,000 after buying an additional 2,088 shares in the last quarter. Hedge funds and other institutional investors own 66.22% of the company’s stock.

Several research firms recently weighed in on BRSP. Bank of America began coverage on shares of BrightSpire Capital in a report on Friday, February 18th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a report on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.17.

BrightSpire Capital Company Profile (Get Rating)

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. It focuses on originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.

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