Almitas Capital LLC lifted its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 34.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 478,415 shares of the company's stock after purchasing an additional 122,093 shares during the period. BrightSpire Capital makes up about 0.9% of Almitas Capital LLC's holdings, making the stock its 21st biggest position. Almitas Capital LLC owned 0.37% of BrightSpire Capital worth $2,660,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in BrightSpire Capital during the first quarter valued at $18,085,000. North Ground Capital raised its position in BrightSpire Capital by 89.7% during the first quarter. North Ground Capital now owns 1,461,028 shares of the company's stock valued at $8,123,000 after buying an additional 691,028 shares during the period. Nuveen LLC acquired a new position in BrightSpire Capital during the first quarter valued at $1,670,000. Balyasny Asset Management L.P. raised 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 buying an additional 163,790 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new position in BrightSpire Capital during the first quarter valued at $903,000. 56.57% of the stock is owned by institutional investors and hedge funds.
BrightSpire Capital Price Performance
BRSP stock traded down $0.01 during trading on Monday, hitting $5.94. The company had a trading volume of 125,076 shares, compared to its average volume of 712,262. The company has a fifty day moving average price of $5.34 and a two-hundred day moving average price of $5.32. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.79. 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 market cap of $771.49 million, a P/E ratio of -26.98 and a beta of 1.61.
BrightSpire Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date was Monday, June 30th. BrightSpire Capital's dividend payout ratio is currently -290.91%.
Wall Street Analyst Weigh In
BRSP has been the topic of several research reports. Barclays reaffirmed an "underweight" rating and issued a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. Jones Trading reaffirmed a "buy" rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BrightSpire Capital has a consensus rating of "Moderate Buy" and a consensus target price of $6.79.
Read Our Latest Stock Report on BrightSpire Capital
About BrightSpire Capital
(
Free Report)
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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