10,384 Shares in BrightSpire Capital, Inc. (NYSE:BRSP) Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors bought a new position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,384 shares of the company’s stock, valued at approximately $77,000.

Several other hedge funds have also added to or reduced their stakes in BRSP. Vanguard Group Inc. boosted its stake in shares of BrightSpire Capital by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,480,508 shares of the company’s stock valued at $78,128,000 after purchasing an additional 71,369 shares during the last quarter. BlackRock Inc. lifted its position in shares of BrightSpire Capital by 29.1% during the 2nd quarter. BlackRock Inc. now owns 10,680,533 shares of the company’s stock valued at $71,880,000 after acquiring an additional 2,408,895 shares during the period. Wolf Hill Capital Management LP acquired a new position in shares of BrightSpire Capital during the 1st quarter valued at $16,207,000. Geode Capital Management LLC lifted its position in shares of BrightSpire Capital by 24.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,632,373 shares of the company’s stock valued at $17,716,000 after acquiring an additional 522,495 shares during the period. Finally, State Street Corp raised its holdings in BrightSpire Capital by 16.6% during the second quarter. State Street Corp now owns 2,626,788 shares of the company’s stock worth $18,199,000 after buying an additional 373,861 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BRSP. Bank of America downgraded shares of 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. Barclays increased their target price on shares of BrightSpire Capital from $6.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 22nd.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $6.19 on Thursday. The firm has a 50-day moving average of $6.76 and a 200-day moving average of $6.74. The company has a market cap of $808.66 million, a P/E ratio of -47.62 and a beta of 1.89. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. BrightSpire Capital, Inc. has a one year low of $5.20 and a one year high of $8.01.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.80 annualized dividend and a yield of 12.92%. BrightSpire Capital’s payout ratio is currently -615.38%.

Insider Activity at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the insider now owns 347,832 shares in the company, valued at $2,351,344.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.06% of the stock is owned by company insiders.

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.