MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Position in BrightSpire Capital, Inc. $BRSP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its ownership of BrightSpire Capital by 23.3%, holding approximately 1.95 million shares valued at $10.84 million.
• BrightSpire Capital recently declared a $0.16 quarterly dividend, yielding 10.9% annually, despite a negative payout ratio of -290.91%.
• Equities analysts have a consensus rating of "Moderate Buy" for BrightSpire Capital, with a price target averaging $6.79, despite some analysts issuing lower target prices.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 23.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,950,366 shares of the company's stock after buying an additional 368,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.49% of BrightSpire Capital worth $10,844,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BRSP. Nomura Holdings Inc. purchased a new position in shares of BrightSpire Capital during the 1st quarter valued at about $18,085,000. North Ground Capital increased its stake in shares of BrightSpire Capital by 89.7% in the 1st quarter. North Ground Capital now owns 1,461,028 shares of the company's stock valued at $8,123,000 after purchasing an additional 691,028 shares in the last quarter. Nuveen LLC purchased a new position in shares of BrightSpire Capital in the 1st quarter valued at about $1,670,000. Kovitz Investment Group Partners LLC purchased a new position in shares of BrightSpire Capital in the 1st quarter valued at about $903,000. Finally, Private Management Group Inc. increased its stake in shares of BrightSpire Capital by 2.7% in the 1st quarter. Private Management Group Inc. now owns 4,758,232 shares of the company's stock valued at $26,456,000 after purchasing an additional 125,500 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company's stock.

BrightSpire Capital Trading Down 0.9%

BRSP stock opened at $5.89 on Wednesday. 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 12-month low of $4.16 and a 12-month high of $6.45. The stock has a market cap of $764.99 million, a price-to-earnings ratio of -26.75 and a beta of 1.61. The business's 50-day moving average is $5.37 and its 200 day moving average is $5.32.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.9%. The ex-dividend date was Monday, June 30th. BrightSpire Capital's payout ratio is presently -290.91%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BRSP shares. Jones Trading restated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 30th. Barclays restated an "underweight" rating and issued a $5.00 price target (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of "Moderate Buy" and a consensus 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.

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