BrightSpire Capital, Inc. (NYSE:BRSP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,103,964 shares of the company’s stock after selling 332,225 shares during the quarter. JPMorgan Chase & Co. owned about 0.85% of BrightSpire Capital worth $6,226,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of BrightSpire Capital during the 4th quarter worth $149,000. KLP Kapitalforvaltning AS acquired a new stake in BrightSpire Capital during the fourth quarter worth about $142,000. Sei Investments Co. raised its holdings in shares of BrightSpire Capital by 18.7% in the 4th quarter. Sei Investments Co. now owns 42,473 shares of the company’s stock worth $240,000 after purchasing an additional 6,700 shares during the period. Virtu Financial LLC purchased a new position in shares of BrightSpire Capital in the 4th quarter worth about $163,000. Finally, Magnetar Financial LLC acquired a new position in shares of BrightSpire Capital in the 4th quarter valued at about $83,000. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Price Performance

Shares of BRSP stock opened at $4.51 on Friday. The firm has a fifty day simple moving average of $5.61 and a 200-day simple moving average of $5.76. The company has a market capitalization of $588.61 million, a PE ratio of -4.29 and a beta of 1.54. BrightSpire Capital, Inc. has a twelve month low of $4.16 and a twelve 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 earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share 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 business had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities research analysts anticipate that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 14.21%. The ex-dividend date was Monday, March 31st. BrightSpire Capital’s payout ratio is -60.95%.

Wall Street Analyst Weigh In

Several research firms recently commented on BRSP. B. Riley cut their price target on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Alliance Global Partners initiated coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They issued a “buy” rating and a $7.25 target price on the stock. Finally, Jones Trading decreased their price target on shares of BrightSpire Capital from $7.25 to $6.50 and set a “buy” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.45.

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.