LPL Financial LLC Decreases Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

LPL Financial LLC reduced its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 12.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 319,596 shares of the company’s stock after selling 45,025 shares during the period. LPL Financial LLC owned about 0.25% of BrightSpire Capital worth $1,803,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BRSP. Winthrop Advisory Group LLC bought a new position in shares of BrightSpire Capital during the 4th quarter worth approximately $61,000. Fermata Advisors LLC purchased a new stake in shares of BrightSpire Capital during the fourth quarter worth $65,000. Cibc World Markets Corp purchased a new stake in BrightSpire Capital in the 4th quarter valued at $68,000. Atria Wealth Solutions Inc. purchased a new stake in shares of BrightSpire Capital during the 4th quarter valued at approximately $72,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of BrightSpire Capital in the 3rd quarter valued at $75,000. 56.57% of the stock is currently owned by institutional investors.

BrightSpire Capital Stock Up 0.6 %

Shares of NYSE:BRSP opened at $4.45 on Wednesday. The company has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $5.78. The firm has a market cap of $580.77 million, a PE ratio of -4.23 and a beta of 1.54. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.71. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. The firm had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. During the same period last year, the firm posted $0.28 EPS. On average, equities research analysts anticipate that BrightSpire Capital, Inc. will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 14.40%. The ex-dividend date of this dividend was Monday, March 31st. BrightSpire Capital’s payout ratio is -60.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Alliance Global Partners initiated coverage on shares of BrightSpire Capital in a research report on Friday, January 17th. They set a “buy” rating and a $7.25 price target on the stock. B. Riley lowered their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, BrightSpire Capital has an average rating of “Moderate Buy” and an average price target of $7.69.

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.