Kovitz Investment Group Partners LLC Takes $903,000 Position in BrightSpire Capital, Inc. $BRSP

Key Points

• Kovitz Investment Group Partners LLC acquired a new stake in BrightSpire Capital, Inc. (NYSE: BRSP) by purchasing 162,340 shares valued at approximately $903,000.
• BrightSpire Capital recently paid a quarterly dividend of $0.16 per share, resulting in an annualized yield of 11.3% despite a negative dividend payout ratio.
• Several institutional investors have significantly increased their holdings in BrightSpire Capital, with notable boosts from Bank of America (56.0%) and Millennium Management (281.1%) during the previous quarter.

Kovitz Investment Group Partners LLC acquired a new stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 162,340 shares of the company's stock, valued at approximately $903,000. Kovitz Investment Group Partners LLC owned 0.12% of BrightSpire Capital at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in shares of BrightSpire Capital in the fourth quarter valued at $37,000. Brevan Howard Capital Management LP bought a new stake in BrightSpire Capital in the 4th quarter valued at about $57,000. Aigen Investment Management LP bought a new stake in BrightSpire Capital in the 1st quarter valued at about $57,000. M&T Bank Corp purchased a new stake in BrightSpire Capital during the first quarter valued at about $62,000. Finally, Dark Forest Capital Management LP bought a new position in BrightSpire Capital during the fourth quarter worth about $64,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

BrightSpire Capital Price Performance

BRSP traded down $0.0850 on Monday, reaching $5.6850. The company had a trading volume of 426,520 shares, compared to its average volume of 806,281. BrightSpire Capital, Inc. has a 52-week low of $4.16 and a 52-week high of $6.45. The company has a market cap of $738.99 million, a price-to-earnings ratio of -25.84 and a beta of 1.52. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.54 and a current ratio of 0.54. The business has a 50 day simple moving average of $5.23 and a 200 day simple moving average of $5.33.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital's payout ratio is currently -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.