BrightSpire Capital, Inc. $BRSP Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in BrightSpire Capital by 2.1%, now holding approximately 12.68 million shares, representing 9.72% of the company.
• BrightSpire Capital recently declared a quarterly dividend of $0.16, which translates to an annual yield of 11.1% despite a negative payout ratio of -290.91%.
• Wall Street analysts have mixed opinions on BRSP, with four recommending a buy and one a sell, leading to an average rating of "Moderate Buy" and a consensus price target of $6.79.

Vanguard Group Inc. trimmed its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,675,650 shares of the company's stock after selling 270,638 shares during the period. Vanguard Group Inc. owned 9.72% of BrightSpire Capital worth $70,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of BrightSpire Capital by 56.0% in the 4th quarter. Bank of America Corp DE now owns 158,229 shares of the company's stock valued at $892,000 after purchasing an additional 56,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 lifted 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 lifted 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 lifted 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.

Analyst Ratings Changes

Several analysts have recently weighed in on BRSP shares. Jones Trading reissued a "buy" rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 30th. Alliance Global Partners restated a "buy" rating on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Industrial Alliance Securities set a $6.50 price target on BrightSpire Capital in a research report on Wednesday, April 30th. Finally, Barclays restated an "underweight" rating and issued a $5.00 price target (down previously from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $6.79.

BrightSpire Capital Stock Performance

NYSE BRSP traded down $0.04 on Thursday, hitting $5.68. 163,241 shares of the company's stock were exchanged, compared to its average volume of 715,145. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54. The firm's 50-day moving average price is $5.25 and its two-hundred day moving average price is $5.33. BrightSpire Capital, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $6.45. The firm has a market cap of $737.69 million, a price-to-earnings ratio of -25.80 and a beta of 1.53.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a $0.16 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.3%. BrightSpire Capital's dividend payout ratio is currently -290.91%.

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.