Bank of New York Mellon Corp Invests $3.75 Million in BrightSpire Capital, Inc. $BRSP

Bank of New York Mellon Corp purchased a new stake in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 688,786 shares of the company's stock, valued at approximately $3,754,000. Bank of New York Mellon Corp owned approximately 0.54% of BrightSpire Capital at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of BrightSpire Capital by 2,405.4% during the third quarter. Millennium Management LLC now owns 591,441 shares of the company's stock valued at $3,212,000 after purchasing an additional 567,834 shares in the last quarter. North Ground Capital grew its holdings in shares of BrightSpire Capital by 21.2% during the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company's stock worth $17,105,000 after purchasing an additional 534,552 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of BrightSpire Capital in the fourth quarter valued at approximately $2,075,000. Goldman Sachs Group Inc. raised its holdings in BrightSpire Capital by 13.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company's stock valued at $15,996,000 after buying an additional 348,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in BrightSpire Capital by 15.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company's stock valued at $12,557,000 after buying an additional 305,264 shares during the last quarter. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Stock Up 0.2%

BRSP stock opened at $4.69 on Monday. The company has a market cap of $593.38 million, a P/E ratio of -20.39, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. BrightSpire Capital, Inc. has a fifty-two week low of $4.61 and a fifty-two week high of $6.16. The stock's 50 day simple moving average is $5.10 and its 200 day simple moving average is $5.50. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.The firm had revenue of $48.70 million for the quarter, compared to analyst estimates of $64.31 million. On average, research analysts expect that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 annualized dividend and a yield of 13.6%. BrightSpire Capital's dividend payout ratio is presently -278.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JonesTrading reissued a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Wall Street Zen raised BrightSpire Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, September 1st. B. Riley Financial reduced their target price on BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of BrightSpire Capital from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $6.50.

BrightSpire Capital Company Profile

BrightSpire Capital Inc NYSE: BRSP is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.

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