HighTower Advisors LLC Increases Position in BrightSpire Capital, Inc. $BRSP

HighTower Advisors LLC increased its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,316 shares of the company’s stock after buying an additional 3,916 shares during the quarter. HighTower Advisors LLC owned about 0.07% of BrightSpire Capital worth $530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRSP. CF Capital LLC acquired a new position in BrightSpire Capital during the fourth quarter valued at $4,343,000. Nuveen LLC acquired a new position in BrightSpire Capital during the first quarter valued at $1,670,000. Balyasny Asset Management L.P. lifted its position in BrightSpire Capital by 16.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,132,234 shares of the company’s stock valued at $6,386,000 after purchasing an additional 163,790 shares during the period. Private Management Group Inc. lifted its position in BrightSpire Capital by 2.7% during the first quarter. Private Management Group Inc. now owns 4,758,232 shares of the company’s stock valued at $26,456,000 after purchasing an additional 125,500 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in BrightSpire Capital by 8.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,349,062 shares of the company’s stock valued at $7,501,000 after purchasing an additional 107,265 shares during the period. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Trading Up 1.7%

Shares of BrightSpire Capital stock opened at $5.81 on Friday. The firm has a 50-day simple moving average of $5.28 and a two-hundred day simple moving average of $5.33. The company has a market cap of $754.59 million, a P/E ratio of -26.39 and a beta of 1.53. BrightSpire Capital, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $6.45. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.54 and a current ratio of 0.54.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a $0.16 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.0%. BrightSpire Capital’s dividend payout ratio is -290.91%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BRSP shares. Jones Trading restated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, July 30th. Barclays restated an “underweight” rating and set a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, BrightSpire Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.79.

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.