Alpine Global Management LLC reduced its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 86.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,830 shares of the company's stock after selling 794,711 shares during the period. Alpine Global Management LLC owned 0.09% of BrightSpire Capital worth $687,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new position in BrightSpire Capital during the fourth quarter valued at about $163,000. Private Management Group Inc. increased its stake in BrightSpire Capital by 1.3% in the 4th quarter. Private Management Group Inc. now owns 4,632,732 shares of the company's stock worth $26,129,000 after acquiring an additional 57,759 shares during the last quarter. Van ECK Associates Corp increased its position in shares of BrightSpire Capital by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company's stock worth $6,400,000 after purchasing an additional 129,120 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in BrightSpire Capital by 46.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 157,857 shares of the company's stock worth $890,000 after buying an additional 49,834 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of BrightSpire Capital in the 4th quarter worth $72,000. 56.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on BRSP shares. Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Jones Trading reiterated a "buy" rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Alliance Global Partners reaffirmed a "buy" rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Finally, JMP Securities reduced their price target on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.15.
Get Our Latest Report on BRSP
BrightSpire Capital Trading Up 0.1%
Shares of BrightSpire Capital stock traded up $0.01 on Wednesday, hitting $5.09. The stock had a trading volume of 110,712 shares, compared to its average volume of 752,027. The stock has a market cap of $663.40 million, a price-to-earnings ratio of -4.84 and a beta of 1.53. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79. The stock's 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $5.66. BrightSpire Capital, Inc. has a one year low of $4.16 and a one year high of $6.71.
BrightSpire Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.59%. The ex-dividend date was Monday, March 31st. BrightSpire Capital's dividend payout ratio (DPR) is -114.29%.
BrightSpire Capital Company Profile
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Free Report)
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.
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