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

A number of other hedge funds also recently bought and sold shares of BRSP. Ameriflex Group Inc. bought a new position in BrightSpire Capital during the 4th quarter valued at about $37,000. Brevan Howard Capital Management LP bought a new position in BrightSpire Capital during the 4th quarter valued at about $57,000. M&T Bank Corp bought a new position in BrightSpire Capital during the 1st quarter valued at about $62,000. Dark Forest Capital Management LP bought a new position in BrightSpire Capital during the 4th quarter valued at about $64,000. Finally, Allworth Financial LP lifted its stake in BrightSpire Capital by 2,719.2% during the 1st quarter. Allworth Financial LP now owns 17,733 shares of the company's stock valued at $99,000 after acquiring an additional 17,104 shares during the period. Institutional investors own 56.57% of the company's stock.

BrightSpire Capital Stock Performance

NYSE BRSP traded down $0.10 on Wednesday, reaching $5.28. 256,535 shares of the stock were exchanged, compared to its average volume of 726,998. BrightSpire Capital, Inc. has a one year low of $4.16 and a one year high of $6.45. The firm has a market capitalization of $685.70 million, a PE ratio of -23.98 and a beta of 1.52. The company's 50-day simple moving average is $5.13 and its two-hundred day simple moving average is $5.34. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid 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 12.1%. BrightSpire Capital's dividend payout ratio (DPR) is presently -290.91%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BRSP shares. JMP Securities lowered their price objective on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a research note on Tuesday, April 22nd. Barclays reiterated an "underweight" rating and issued a $5.00 price objective (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Jones Trading reiterated a "buy" rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, July 30th. Industrial Alliance Securities set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently 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.