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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in BrightSpire Capital during the 4th quarter worth approximately $37,000. Brevan Howard Capital Management LP acquired a new position in BrightSpire Capital during the 4th quarter worth approximately $57,000. M&T Bank Corp acquired a new position in BrightSpire Capital during the 1st quarter worth approximately $62,000. Dark Forest Capital Management LP acquired a new position in BrightSpire Capital during the 4th quarter worth approximately $64,000. Finally, Arkadios Wealth Advisors acquired a new position in BrightSpire Capital during the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 56.57% of the company's stock.

Analyst Upgrades and Downgrades

BRSP has been the subject of several analyst reports. Jones Trading reiterated a "buy" rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. Alliance Global Partners reiterated a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Barclays restated an "underweight" rating and set a $5.00 price objective (down previously from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. Finally, Industrial Alliance Securities set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.79.

BrightSpire Capital Stock Down 0.3%

Shares of NYSE:BRSP opened at $5.6550 on Thursday. The company has a market capitalization of $735.09 million, a PE ratio of -25.70 and a beta of 1.53. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.79. BrightSpire Capital, Inc. has a twelve month low of $4.16 and a twelve month high of $6.45. The firm has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $5.33.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a $0.16 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.64 annualized dividend and a yield of 11.3%. BrightSpire Capital's dividend payout ratio is -290.91%.

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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