Algert Global LLC Grows Stock Holdings in BrightSpire Capital, Inc. $BRSP

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 boosted its position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 309.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 97,732 shares of the company's stock after acquiring an additional 73,880 shares during the period. Algert Global LLC owned about 0.07% of BrightSpire Capital worth $543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in BrightSpire Capital by 56.0% in the 4th quarter. Bank of America Corp DE now owns 158,229 shares of the company's stock worth $892,000 after acquiring an additional 56,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of BrightSpire Capital by 40.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company's stock valued at $1,698,000 after purchasing an additional 87,242 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of BrightSpire Capital by 281.1% in the 4th quarter. Millennium Management LLC now owns 131,743 shares of the company's stock valued at $743,000 after purchasing an additional 97,175 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of BrightSpire Capital by 13.6% in the 4th quarter. Two Sigma Investments LP now owns 536,444 shares of the company's stock valued at $3,026,000 after purchasing an additional 64,384 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of BrightSpire Capital by 7.6% in the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock valued at $7,260,000 after purchasing an additional 91,263 shares during the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $5.7750 on Friday. The company's fifty day simple moving average is $5.22 and its 200-day simple moving average is $5.33. BrightSpire Capital, Inc. has a 52 week low of $4.16 and a 52 week high of $6.45. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.79. The company has a market cap of $750.69 million, a PE ratio of -26.25 and a beta of 1.53.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital's dividend payout ratio (DPR) is currently -290.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BRSP. Jones Trading reiterated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. Alliance Global Partners reiterated a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Barclays reiterated an "underweight" rating and issued a $5.00 price target (down previously from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Finally, Industrial Alliance Securities set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, BrightSpire Capital has an average rating of "Moderate Buy" and a consensus target price 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.

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