Bank of America Corp DE Grows Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Bank of America Corp DE grew its position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,229 shares of the company's stock after purchasing an additional 56,787 shares during the quarter. Bank of America Corp DE owned about 0.12% of BrightSpire Capital worth $892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in BrightSpire Capital by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company's stock valued at $6,400,000 after purchasing an additional 129,120 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of BrightSpire Capital by 46.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 157,857 shares of the company's stock worth $890,000 after acquiring an additional 49,834 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of BrightSpire Capital during the 4th quarter worth about $72,000. Bank of New York Mellon Corp raised its position in shares of BrightSpire Capital by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company's stock worth $2,018,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC raised its position in shares of BrightSpire Capital by 30.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company's stock worth $108,000 after purchasing an additional 4,434 shares during the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jones Trading reaffirmed a "buy" rating and set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Alliance Global Partners reaffirmed a "buy" rating on shares of BrightSpire Capital in a research report on Wednesday, April 30th. JMP Securities reduced their target price on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has an average rating of "Moderate Buy" and a consensus target price of $7.15.

BrightSpire Capital Stock Performance

Shares of BRSP opened at $5.22 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The stock has a market cap of $680.36 million, a P/E ratio of -4.97 and a beta of 1.50. The company has a 50-day moving average of $4.97 and a two-hundred day moving average of $5.60. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.71.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.27%. The ex-dividend date was Monday, March 31st. BrightSpire Capital's dividend payout ratio is presently -114.29%.

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.

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