Charles Schwab Investment Management Inc. Has $7.50 Million Holdings in 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. raised its position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349,062 shares of the company's stock after buying an additional 107,265 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of BrightSpire Capital worth $7,501,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. CF Capital LLC acquired a new position in shares of BrightSpire Capital during the 4th quarter worth approximately $4,343,000. Almitas Capital LLC bought a new stake in shares of BrightSpire Capital in the fourth quarter valued at approximately $2,010,000. Balyasny Asset Management L.P. grew its position in BrightSpire Capital by 16.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,132,234 shares of the company's stock worth $6,386,000 after buying an additional 163,790 shares in the last quarter. Private Management Group Inc. grew its position in BrightSpire Capital by 2.7% during the first quarter. Private Management Group Inc. now owns 4,758,232 shares of the company's stock worth $26,456,000 after buying an additional 125,500 shares in the last quarter. Finally, Conversant Capital LLC increased its stake in BrightSpire Capital by 3.7% during the 4th quarter. Conversant Capital LLC now owns 2,801,223 shares of the company's stock worth $15,799,000 after acquiring an additional 100,000 shares during the period. Institutional investors own 56.57% of the company's stock.

BrightSpire Capital Stock Performance

Shares of BrightSpire Capital stock opened at $5.72 on Wednesday. The company's 50 day moving average price is $5.24 and its two-hundred day moving average price is $5.33. The firm has a market capitalization of $742.89 million, a P/E ratio of -25.98 and a beta of 1.53. BrightSpire Capital, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $6.45. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a dividend of $0.16 per share. The ex-dividend date was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 11.2%. BrightSpire Capital's payout ratio is currently -290.91%.

Analyst Ratings Changes

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

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