BrightSpire Capital, Inc. $BRSP Stake Boosted by Private Management Group Inc.

Key Points

• Private Management Group increased its BrightSpire Capital stake by 29.5% in the third quarter, adding about 1.44 million shares to hold 6.32 million shares, or roughly 5.07% of the company.
• BrightSpire reported quarterly EPS of $0.14, above the $0.13 consensus, and revenue of $109.77 million versus estimates of $83.56 million.
• The company’s quarterly dividend was $0.16 per share, equivalent to a reported annualized yield of 19%. Analyst views were mixed, with an average rating of “Hold” and an average price target of $5.85.

Private Management Group Inc. boosted its holdings in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,315,577 shares of the company's stock after purchasing an additional 1,438,092 shares during the quarter. Private Management Group Inc. owned approximately 5.07% of BrightSpire Capital worth $24,189,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of BrightSpire Capital during the second quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of BrightSpire Capital in the 1st quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new position in shares of BrightSpire Capital in the 2nd quarter worth about $31,000. Axiom Investment Management LLC acquired a new position in shares of BrightSpire Capital in the 1st quarter valued at about $33,000. Finally, KBC Group NV acquired a new position in shares of BrightSpire Capital in the 1st quarter valued at about $48,000. Institutional investors own 56.57% of the company's stock.

BrightSpire Capital Price Performance

Shares of NYSE BRSP opened at $3.38 on Tuesday. BrightSpire Capital, Inc. has a 1-year low of $3.33 and a 1-year high of $6.16. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.82 and a quick ratio of 0.82. The business's fifty day moving average price is $3.96 and its two-hundred day moving average price is $5.17. The firm has a market capitalization of $420.80 million, a PE ratio of 25.96, a P/E/G ratio of 2.82 and a beta of 1.34.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $109.77 million during the quarter, compared to the consensus estimate of $83.56 million. BrightSpire Capital had a net margin of 27.63% and a return on equity of 5.82%. On average, research analysts expect that BrightSpire Capital, Inc. will post 0.44 EPS for the current year.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were given a $0.16 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.64 annualized dividend and a yield of 19.0%. BrightSpire Capital's dividend payout ratio (DPR) is currently 492.31%.

Analyst Upgrades and Downgrades

BRSP has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of BrightSpire Capital from a "hold" rating to a "sell" rating in a research report on Saturday, October 24th. Citizens Jmp cut their target price on shares of BrightSpire Capital from $7.00 to $6.00 and set a "market outperform" rating on the stock in a report on Wednesday, October 7th. JonesTrading cut their target price on shares of BrightSpire Capital from $6.50 to $6.25 and set a "buy" rating on the stock in a report on Wednesday, October 28th. Zacks Research downgraded BrightSpire Capital from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 14th. Finally, The Goldman Sachs Group raised BrightSpire Capital to a "buy" rating in a report on Wednesday, October 7th. Six research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.85.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing a portfolio of commercial real estate debt and related investments.

BrightSpire's investments primarily include senior mortgage loans, mezzanine loans, preferred equity and other real estate-related credit investments. Its portfolio may be secured by properties across several commercial real estate sectors, including office, multifamily, industrial, hospitality, retail and other specialized property types.

The company serves commercial real estate owners, operators and developers primarily in the United States.

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