Connor Clark & Lunn Investment Management Ltd. Makes New $276,000 Investment in BrightSpire Capital, Inc. $BRSP

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 49,657 shares of BrightSpire Capital, Inc. in the first quarter, with the investment valued at approximately $276,000.
• BrightSpire Capital recently declared a $0.16 quarterly dividend, with a yield of 11.3%, despite having a dividend payout ratio of -290.91%.
• The stock has a consensus rating of "Moderate Buy" with a target price of $6.79, according to four analysts, signifying positive outlook despite recent price adjustments.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,657 shares of the company's stock, valued at approximately $276,000.

A number of other large investors also recently modified their holdings of the business. Cetera Investment Advisers increased its holdings in shares of BrightSpire Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 74,753 shares of the company's stock valued at $416,000 after purchasing an additional 3,224 shares during the period. Merit Financial Group LLC grew its holdings in BrightSpire Capital by 5.3% during the first quarter. Merit Financial Group LLC now owns 112,222 shares of the company's stock worth $624,000 after acquiring an additional 5,647 shares during the period. Gallagher Fiduciary Advisors LLC grew its holdings in BrightSpire Capital by 18.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 36,164 shares of the company's stock worth $204,000 after acquiring an additional 5,749 shares during the period. Ameriflex Group Inc. acquired a new position in BrightSpire Capital during the fourth quarter worth about $37,000. Finally, MetLife Investment Management LLC grew its holdings in BrightSpire Capital by 10.5% during the fourth quarter. MetLife Investment Management LLC now owns 74,091 shares of the company's stock worth $418,000 after acquiring an additional 7,022 shares during the period. 56.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRSP. Barclays reaffirmed an "underweight" rating and set a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Industrial Alliance Securities set a $6.50 target price on BrightSpire Capital in a report on Wednesday, April 30th. Alliance Global Partners reaffirmed a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Finally, Jones Trading reiterated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, BrightSpire Capital has a consensus rating of "Moderate Buy" and a consensus price target of $6.79.

BrightSpire Capital Trading Up 0.4%

Shares of NYSE:BRSP traded up $0.03 during midday trading on Tuesday, reaching $5.72. The company had a trading volume of 539,344 shares, compared to its average volume of 767,903. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.54 and a current ratio of 0.54. BrightSpire Capital, Inc. has a 1-year low of $4.16 and a 1-year high of $6.45. The firm has a market cap of $742.89 million, a price-to-earnings ratio of -25.98 and a beta of 1.53. The company has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $5.33.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed 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. 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 dividend payout ratio (DPR) is presently -290.91%.

BrightSpire Capital Company 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.