Nuveen LLC Acquires Shares of 300,381 BrightSpire Capital, Inc. $BRSP

Key Points

• Nuveen LLC has invested approximately $1.67 million in BrightSpire Capital, acquiring 300,381 shares of the company, which represents 0.23% ownership.
• BrightSpire Capital recently announced a quarterly dividend of $0.16, yielding 11.0% annually, despite a negative dividend payout ratio of -290.91%.
• Analysts have mixed ratings on BrightSpire Capital, with Barclays downgrading the stock's target price to $5.00, while Jones Trading rates it a "buy" with a target of $6.50.

Nuveen LLC purchased a new position in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 300,381 shares of the company's stock, valued at approximately $1,670,000. Nuveen LLC owned 0.23% of BrightSpire Capital as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in BrightSpire Capital by 56.0% in the 4th quarter. Bank of America Corp DE now owns 158,229 shares of the company's stock worth $892,000 after purchasing an additional 56,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in BrightSpire Capital by 40.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company's stock worth $1,698,000 after purchasing an additional 87,242 shares during the period. Millennium Management LLC boosted its stake in BrightSpire Capital by 281.1% in the 4th quarter. Millennium Management LLC now owns 131,743 shares of the company's stock worth $743,000 after purchasing an additional 97,175 shares during the period. Two Sigma Investments LP boosted its stake in BrightSpire Capital by 13.6% in the 4th quarter. Two Sigma Investments LP now owns 536,444 shares of the company's stock worth $3,026,000 after purchasing an additional 64,384 shares during the period. Finally, Northern Trust Corp boosted its stake in BrightSpire Capital by 7.6% in the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock worth $7,260,000 after purchasing an additional 91,263 shares during the period. Institutional investors own 56.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BRSP shares. Barclays restated an "underweight" rating and issued a $5.00 target price (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Jones Trading restated a "buy" rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note 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. According to MarketBeat, BrightSpire Capital presently has an average rating of "Moderate Buy" and a consensus price target of $6.79.

BrightSpire Capital Price Performance

NYSE:BRSP traded up $0.04 during mid-day trading on Thursday, reaching $5.90. The stock had a trading volume of 467,310 shares, compared to its average volume of 600,678. The firm has a 50 day moving average price of $5.32 and a two-hundred day moving average price of $5.33. The stock has a market capitalization of $766.29 million, a P/E ratio of -26.80 and a beta of 1.61. BrightSpire Capital, Inc. has a one year low of $4.16 and a one year high of $6.45. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.54 and a current ratio of 0.54.

BrightSpire Capital Announces Dividend

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