Citigroup Inc. Sells 90,177 Shares of BrightSpire Capital, Inc. $BRSP

Citigroup Inc. decreased its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 915,532 shares of the company’s stock after selling 90,177 shares during the period. Citigroup Inc. owned about 0.71% of BrightSpire Capital worth $4,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BRSP. M&T Bank Corp grew its position in BrightSpire Capital by 22.5% during the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after acquiring an additional 2,501 shares during the last quarter. Everstar Asset Management LLC grew its holdings in shares of BrightSpire Capital by 7.4% during the second quarter. Everstar Asset Management LLC now owns 74,667 shares of the company’s stock worth $377,000 after purchasing an additional 5,151 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of BrightSpire Capital by 25.2% during the second quarter. Diversify Advisory Services LLC now owns 25,763 shares of the company’s stock worth $141,000 after purchasing an additional 5,186 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of BrightSpire Capital by 73.2% in the second quarter. BNP Paribas Financial Markets now owns 12,576 shares of the company’s stock valued at $64,000 after buying an additional 5,314 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of BrightSpire Capital by 101.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock valued at $60,000 after buying an additional 6,001 shares during the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRSP has been the topic of a number of research analyst reports. B. Riley Financial began coverage on shares of BrightSpire Capital in a report on Monday, January 5th. They set a “buy” rating and a $7.50 price objective on the stock. JonesTrading reissued a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, February 18th. Barclays raised their price target on shares of BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Thursday, February 19th. Finally, Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.60.

BrightSpire Capital Stock Performance

BRSP stock opened at $5.85 on Wednesday. BrightSpire Capital, Inc. has a twelve month low of $4.16 and a twelve month high of $6.20. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.21. The company has a market cap of $752.49 million, a P/E ratio of -22.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39. The business’s fifty day moving average is $5.85 and its 200-day moving average is $5.67.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 10.9%. BrightSpire Capital’s dividend payout ratio (DPR) is -246.15%.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.