The Manufacturers Life Insurance Company Acquires 3,608 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

The Manufacturers Life Insurance Company lifted its stake in BrightSpire Capital, Inc. (NYSE:BRSPFree Report) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,752 shares of the company’s stock after buying an additional 3,608 shares during the period. The Manufacturers Life Insurance Company’s holdings in BrightSpire Capital were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares during the period. Private Advisor Group LLC lifted its position in BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock worth $2,775,000 after purchasing an additional 340,563 shares during the period. Van ECK Associates Corp grew its stake in BrightSpire Capital by 34.7% during the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after buying an additional 275,175 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in BrightSpire Capital by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after buying an additional 4,269 shares during the period. Finally, Cetera Advisors LLC raised its position in shares of BrightSpire Capital by 23.7% in the 1st quarter. Cetera Advisors LLC now owns 62,951 shares of the company’s stock valued at $434,000 after buying an additional 12,050 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP opened at $5.48 on Friday. The firm has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $5.96. The company has a market cap of $715.89 million, a price-to-earnings ratio of -9.96 and a beta of 1.89. BrightSpire Capital, Inc. has a one year low of $5.07 and a one year high of $8.01. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46.

BrightSpire Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 11.68%. The ex-dividend date was Monday, September 30th. BrightSpire Capital’s dividend payout ratio (DPR) is -116.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BRSP shares. BTIG Research reissued a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. JMP Securities reiterated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.00.

Check Out Our Latest Report on BrightSpire Capital

BrightSpire Capital Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for BrightSpire Capital (NYSE:BRSP)

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