Geode Capital Management LLC Has $17.20 Million Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Geode Capital Management LLC cut its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,048,707 shares of the company’s stock after selling 33,930 shares during the period. Geode Capital Management LLC owned approximately 2.35% of BrightSpire Capital worth $17,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC bought a new position in shares of BrightSpire Capital in the fourth quarter valued at $61,000. Fermata Advisors LLC acquired a new position in shares of BrightSpire Capital during the 4th quarter worth about $65,000. Cibc World Markets Corp bought a new stake in shares of BrightSpire Capital in the 4th quarter valued at about $68,000. Atria Wealth Solutions Inc. acquired a new stake in BrightSpire Capital in the 4th quarter valued at about $72,000. Finally, Garden State Investment Advisory Services LLC bought a new position in BrightSpire Capital during the third quarter worth about $75,000. Institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

BrightSpire Capital Price Performance

Shares of BRSP opened at $4.51 on Friday. The stock has a market cap of $588.61 million, a P/E ratio of -4.29 and a beta of 1.54. The business’s fifty day moving average is $5.58 and its 200 day moving average is $5.76. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.71.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly 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). The business had revenue of $17.46 million during the quarter, compared to the consensus estimate of $65.81 million. BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. During the same period in the previous year, the business posted $0.28 EPS. Sell-side analysts anticipate that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

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

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.