BrightSpire Capital, Inc. $BRSP Stock Holdings Lifted by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in BrightSpire Capital by 309.7% in the first quarter, acquiring a total of 97,732 shares worth approximately $543,000.
• BrightSpire Capital declared a $0.16 quarterly dividend, which results in an annualized yield of 11.1%, despite having a negative dividend payout ratio of -290.91%.
• A consensus of analysts rated BrightSpire Capital as a "Moderate Buy" with a target price averaging $6.79, indicating potential upside based on current market conditions.

Algert Global LLC grew its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 309.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,732 shares of the company's stock after buying an additional 73,880 shares during the period. Algert Global LLC owned 0.07% of BrightSpire Capital worth $543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Private Management Group Inc. raised its holdings in shares of 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 buying an additional 125,500 shares during the last quarter. Conversant Capital LLC raised its holdings in shares of BrightSpire Capital by 3.7% during the fourth quarter. Conversant Capital LLC now owns 2,801,223 shares of the company's stock valued at $15,799,000 after buying an additional 100,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 buying an additional 107,265 shares during the last quarter. Northern Trust Corp raised its holdings in shares of BrightSpire Capital by 7.6% during the fourth quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock valued at $7,260,000 after buying an additional 91,263 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of 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 buying an additional 163,790 shares during the last quarter. Institutional investors own 56.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jones Trading reaffirmed a "buy" rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. Barclays reissued an "underweight" rating and set a $5.00 target price (down previously from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.79.

BrightSpire Capital Price Performance

Shares of NYSE BRSP traded up $0.10 during trading on Friday, hitting $5.81. The company had a trading volume of 837,780 shares, compared to its average volume of 646,215. 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 52 week low of $4.16 and a 52 week high of $6.45. The business's 50-day moving average is $5.28 and its 200 day moving average is $5.33. 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 business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 11.0%. 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.