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

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Invesco Ltd. boosted its holdings in BrightSpire Capital by 7.3% in the fourth quarter. Invesco Ltd. now owns 476,508 shares of the company's stock worth $2,688,000 after purchasing an additional 32,344 shares in the last quarter. Legal & General Group Plc lifted its position in shares of BrightSpire Capital by 6.3% in the fourth quarter. Legal & General Group Plc now owns 140,008 shares of the company's stock worth $790,000 after buying an additional 8,285 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of BrightSpire Capital during the 4th quarter worth about $315,000. Barclays PLC increased its holdings in shares of BrightSpire Capital by 11.9% during the 4th quarter. Barclays PLC now owns 221,871 shares of the company's stock valued at $1,251,000 after acquiring an additional 23,520 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of BrightSpire Capital by 10.5% during the 4th quarter. MetLife Investment Management LLC now owns 74,091 shares of the company's stock valued at $418,000 after acquiring an additional 7,022 shares during the last quarter. Institutional investors own 56.57% of the company's stock.

Analyst Ratings Changes

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

BrightSpire Capital Stock Performance

Shares of NYSE BRSP traded up $0.2850 during mid-day trading on Friday, hitting $5.7750. The company had a trading volume of 821,298 shares, compared to its average volume of 794,745. BrightSpire Capital, Inc. has a 12 month low of $4.16 and a 12 month high of $6.45. The firm has a market cap of $750.69 million, a P/E ratio of -26.25 and a beta of 1.53. The business's 50-day simple moving average is $5.22 and its 200-day simple moving average is $5.33. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54.

BrightSpire Capital Dividend Announcement

The company 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 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital's dividend payout ratio (DPR) is presently -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.