Federated Hermes Inc. Has $7.63 Million Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Key Points

• Federated Hermes Inc. reduced its stake in BrightSpire Capital by 10.0%, owning approximately 1.05% of the company after selling 152,928 shares.
• BrightSpire Capital recently announced a quarterly dividend of $0.16 per share, resulting in an annualized yield of 12.4%.
• Analysts have mixed ratings on BrightSpire Capital, with four buy ratings and one sell rating, leading to an average target price of $6.79.

Federated Hermes Inc. reduced its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,371,527 shares of the company's stock after selling 152,928 shares during the quarter. Federated Hermes Inc. owned 1.05% of BrightSpire Capital worth $7,626,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BRSP. Bank of America Corp DE increased its stake 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 valued at $892,000 after buying an additional 56,787 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of BrightSpire Capital by 40.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company's stock valued at $1,698,000 after buying an additional 87,242 shares in the last quarter. Millennium Management LLC increased its stake in shares of BrightSpire Capital by 281.1% in the fourth quarter. Millennium Management LLC now owns 131,743 shares of the company's stock valued at $743,000 after buying an additional 97,175 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of BrightSpire Capital by 13.6% in the fourth quarter. Two Sigma Investments LP now owns 536,444 shares of the company's stock valued at $3,026,000 after buying an additional 64,384 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of BrightSpire Capital by 7.6% in the fourth quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock valued at $7,260,000 after buying an additional 91,263 shares in the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BRSP. Industrial Alliance Securities set a $6.50 price target on BrightSpire Capital in a report on Wednesday, April 30th. Jones Trading reiterated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. JMP Securities decreased their price target on BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a report on Tuesday, April 22nd. Barclays reiterated an "underweight" rating and issued a $5.00 price target (down previously from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Finally, Alliance Global Partners restated a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.79.

BrightSpire Capital Stock Performance

Shares of NYSE BRSP traded up $0.16 during midday trading on Monday, hitting $5.32. 1,192,181 shares of the company's stock were exchanged, compared to its average volume of 837,807. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.79. BrightSpire Capital, Inc. has a 12 month low of $4.16 and a 12 month high of $6.45. The company's 50 day moving average price is $5.12 and its 200 day moving average price is $5.34. The firm has a market capitalization of $690.90 million, a PE ratio of 8.19 and a beta of 1.52.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were paid a $0.16 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.64 annualized dividend and a yield of 12.0%. BrightSpire Capital's payout ratio is -290.91%.

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.