Vanguard Group Inc. Sells 270,638 Shares of BrightSpire Capital, Inc. $BRSP

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. decreased its position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,675,650 shares of the company's stock after selling 270,638 shares during the period. Vanguard Group Inc. owned approximately 9.72% of BrightSpire Capital worth $70,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in BrightSpire Capital in the 1st quarter worth about $65,000. XTX Topco Ltd bought a new position in BrightSpire Capital in the 1st quarter worth about $191,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in BrightSpire Capital by 36.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,181 shares of the company's stock worth $357,000 after purchasing an additional 17,178 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of BrightSpire Capital by 2.7% in the 1st quarter. Private Management Group Inc. now owns 4,758,232 shares of the company's stock worth $26,456,000 after acquiring an additional 125,500 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of BrightSpire Capital by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 74,753 shares of the company's stock worth $416,000 after acquiring an additional 3,224 shares during the period. Institutional investors own 56.57% of the company's stock.

BrightSpire Capital Stock Up 1.7%

Shares of BRSP traded up $0.10 during mid-day trading on Friday, hitting $5.81. 837,780 shares of the company's stock were exchanged, compared to its average volume of 646,215. The firm has a fifty day moving average of $5.28 and a two-hundred day moving average of $5.33. BrightSpire Capital, Inc. has a twelve month low of $4.16 and a twelve month high of $6.45. The stock has a market cap of $754.59 million, a price-to-earnings ratio of -26.39 and a beta of 1.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.79.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital's dividend payout ratio is currently -290.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BRSP. Barclays reaffirmed an "underweight" rating and issued a $5.00 price target (down from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Jones Trading reissued a "buy" rating and set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.79.

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.