Cetera Investment Advisers Buys 3,224 Shares of BrightSpire Capital, Inc. $BRSP

Cetera Investment Advisers lifted its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,753 shares of the company’s stock after purchasing an additional 3,224 shares during the period. Cetera Investment Advisers owned 0.06% of BrightSpire Capital worth $416,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its holdings in shares of BrightSpire Capital by 5.3% in the 1st quarter. Merit Financial Group LLC now owns 112,222 shares of the company’s stock worth $624,000 after acquiring an additional 5,647 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its position in shares of BrightSpire Capital by 18.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 36,164 shares of the company’s stock valued at $204,000 after buying an additional 5,749 shares in the last quarter. Ameriflex Group Inc. acquired a new position in BrightSpire Capital in the 4th quarter worth $37,000. MetLife Investment Management LLC boosted its stake in BrightSpire Capital by 10.5% in the 4th quarter. MetLife Investment Management LLC now owns 74,091 shares of the company’s stock worth $418,000 after purchasing an additional 7,022 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of BrightSpire Capital by 6.3% during the 4th quarter. Legal & General Group Plc now owns 140,008 shares of the company’s stock worth $790,000 after buying an additional 8,285 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BRSP. Alliance Global Partners restated a “buy” rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Industrial Alliance Securities set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Barclays reiterated an “underweight” rating and issued a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. JMP Securities reduced their price target on BrightSpire Capital from $7.50 to $6.50 and set a “market outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Jones Trading reiterated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, BrightSpire Capital has an average rating of “Moderate Buy” and an average target price of $6.79.

BrightSpire Capital Price Performance

BRSP stock opened at $5.55 on Monday. The stock has a market capitalization of $721.44 million, a PE ratio of -25.23 and a beta of 1.52. The company’s 50-day moving average is $5.19 and its 200-day moving average is $5.33. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54. BrightSpire Capital, Inc. has a 1 year low of $4.16 and a 1 year high of $6.45.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital’s dividend payout ratio is currently -290.91%.

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.