Fmr LLC Decreases Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Fmr LLC lessened its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 27.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,507 shares of the company’s stock after selling 35,799 shares during the period. Fmr LLC owned 0.07% of BrightSpire Capital worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in BrightSpire Capital by 363.1% in the 3rd quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock valued at $52,000 after buying an additional 7,265 shares during the period. ORG Partners LLC purchased a new stake in BrightSpire Capital in the 3rd quarter valued at approximately $53,000. McAdam LLC acquired a new stake in shares of BrightSpire Capital during the 3rd quarter worth about $58,000. EverSource Wealth Advisors LLC boosted its holdings in shares of BrightSpire Capital by 5,602.8% during the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after purchasing an additional 10,085 shares during the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in BrightSpire Capital in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.00.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $5.93 on Thursday. BrightSpire Capital, Inc. has a 12-month low of $5.07 and a 12-month high of $8.01. The firm has a market capitalization of $769.03 million, a price-to-earnings ratio of -5.81 and a beta of 1.87. The business has a 50 day simple moving average of $5.99 and a 200 day simple moving average of $5.90. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.79%. The ex-dividend date of this dividend is Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

BrightSpire Capital Company Profile

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.