Bank of America Corp DE Purchases 56,787 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Bank of America Corp DE increased its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 56.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 158,229 shares of the company's stock after acquiring an additional 56,787 shares during the period. Bank of America Corp DE owned about 0.12% of BrightSpire Capital worth $892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dark Forest Capital Management LP acquired a new stake in BrightSpire Capital during the fourth quarter worth $64,000. Cibc World Markets Corp purchased a new stake in shares of BrightSpire Capital during the 4th quarter worth approximately $68,000. Atria Wealth Solutions Inc. purchased a new stake in BrightSpire Capital in the 4th quarter valued at approximately $72,000. Magnetar Financial LLC purchased a new position in shares of BrightSpire Capital during the 4th quarter worth $83,000. Finally, Allegiance Financial Group Advisory Services LLC increased its holdings 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 buying an additional 4,434 shares during the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Stock Performance

BrightSpire Capital stock traded down $0.03 during mid-day trading on Wednesday, reaching $5.34. The company's stock had a trading volume of 584,900 shares, compared to its average volume of 743,695. The firm's fifty day moving average price is $4.97 and its two-hundred day moving average price is $5.58. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.71. The company has a market capitalization of $696.01 million, a P/E ratio of -5.08 and a beta of 1.50.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 12.00%. The ex-dividend date of this dividend was Monday, March 31st. BrightSpire Capital's dividend payout ratio (DPR) is presently -114.29%.

Wall Street Analyst Weigh In

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

BrightSpire Capital 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.