Charles Schwab Investment Management Inc. Purchases 107,265 Shares of BrightSpire Capital, Inc. $BRSP

Key Points

• Charles Schwab Investment Management Inc. increased its stake in BrightSpire Capital by 8.6%, now holding 1,349,062 shares valued at approximately $7.50 million.
• BrightSpire Capital recently announced a quarterly dividend of $0.16 per share, translating to an annualized yield of 11.2%.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a price target averaging $6.79.

Charles Schwab Investment Management Inc. boosted its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,349,062 shares of the company's stock after buying an additional 107,265 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of BrightSpire Capital worth $7,501,000 at the end of the most recent quarter.

Other large investors have 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 fourth quarter. Bank of America Corp DE now owns 158,229 shares of the company's stock worth $892,000 after acquiring an additional 56,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BrightSpire Capital by 40.8% during 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 worth $1,698,000 after purchasing an additional 87,242 shares during the last quarter. Millennium Management LLC raised its holdings in BrightSpire Capital by 281.1% during the 4th quarter. Millennium Management LLC now owns 131,743 shares of the company's stock worth $743,000 after purchasing an additional 97,175 shares during the last quarter. Two Sigma Investments LP grew its position in shares of BrightSpire Capital by 13.6% during the 4th quarter. Two Sigma Investments LP now owns 536,444 shares of the company's stock worth $3,026,000 after buying an additional 64,384 shares during the period. Finally, Northern Trust Corp grew its position in shares of BrightSpire Capital by 7.6% during the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock worth $7,260,000 after buying an additional 91,263 shares during the period. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Price Performance

Shares of BRSP stock traded up $0.10 during trading on Monday, hitting $5.81. The company had a trading volume of 837,780 shares, compared to its average volume of 644,095. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.79. The stock's 50-day moving average is $5.29 and its two-hundred day moving average is $5.32. The stock has a market capitalization of $754.59 million, a price-to-earnings ratio of -26.39 and a beta of 1.61. BrightSpire Capital, Inc. has a 52 week low of $4.16 and a 52 week high of $6.45.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date was Monday, June 30th. BrightSpire Capital's dividend payout ratio (DPR) is presently -290.91%.

Analyst Ratings Changes

Several research firms recently issued reports on BRSP. Jones Trading reissued a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 30th. Barclays reiterated an "underweight" rating and issued a $5.00 target price (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $6.79.

BrightSpire Capital Profile

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.