Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Mirae Asset Global Investments Co. Ltd. cut its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,041,794 shares of the company’s stock after selling 121,548 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.80% of BrightSpire Capital worth $7,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BRSP. Coppell Advisory Solutions Corp. bought a new stake in BrightSpire Capital in the fourth quarter worth $28,000. Lazard Asset Management LLC bought a new stake in shares of BrightSpire Capital during the fourth quarter worth $29,000. Tower Research Capital LLC TRC lifted its position in shares of BrightSpire Capital by 229.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,393 shares of the company’s stock worth $40,000 after purchasing an additional 4,455 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of BrightSpire Capital during the fourth quarter worth $41,000. Finally, Captrust Financial Advisors bought a new stake in shares of BrightSpire Capital during the second quarter worth $45,000. 56.57% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the transaction, the insider now owns 347,832 shares in the company, valued at $2,351,344.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.91% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BrightSpire Capital stock opened at $6.28 on Friday. The firm has a market cap of $820.42 million, a P/E ratio of -48.31 and a beta of 1.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. BrightSpire Capital, Inc. has a 12 month low of $5.20 and a 12 month high of $8.01. The stock’s fifty day moving average price is $6.73 and its 200-day moving average price is $6.74.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 12.74%. BrightSpire Capital’s dividend payout ratio is currently -615.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America downgraded BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 target price for the company. in a research report on Monday, March 4th. Barclays lifted their target price on BrightSpire Capital from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 22nd.

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.