Private Management Group Inc. Boosts Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Key Points

• Private Management Group Inc. increased its stake in BrightSpire Capital by 2.7%, owning approximately 3.65% of BRSP worth $26.46 million after purchasing 125,500 additional shares.
• BrightSpire Capital announced a quarterly dividend of $0.16 per share, representing a 12.84% annual yield despite a negative dividend payout ratio of -114.29%.
• Analyst ratings for BRSP are mixed, with a consensus target price of $6.79, reflecting an average rating of "Moderate Buy" from equity analysts.

Private Management Group Inc. increased its stake in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,758,232 shares of the company's stock after buying an additional 125,500 shares during the period. Private Management Group Inc. owned 3.65% of BrightSpire Capital worth $26,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BRSP. Ameriflex Group Inc. purchased a new stake in BrightSpire Capital during the 4th quarter valued at $37,000. Brevan Howard Capital Management LP bought a new position in shares of BrightSpire Capital during the 4th quarter valued at $57,000. M&T Bank Corp bought a new position in shares of BrightSpire Capital during the 1st quarter valued at $62,000. Dark Forest Capital Management LP bought a new position in shares of BrightSpire Capital during the 4th quarter valued at $64,000. Finally, Cibc World Markets Corp bought a new position in shares of BrightSpire Capital during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 56.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BRSP. Alliance Global Partners reissued a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. JMP Securities decreased their target price on BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating on the stock in a report on Tuesday, April 22nd. Jones Trading reaffirmed a "buy" rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. Industrial Alliance Securities set a $6.50 target price on BrightSpire Capital in a report on Wednesday, April 30th. Finally, Barclays reaffirmed an "underweight" rating and issued a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $6.79.

BrightSpire Capital Trading Up 0.1%

Shares of NYSE:BRSP traded up $0.01 during trading hours on Tuesday, hitting $4.98. 220,217 shares of the company's stock traded hands, compared to its average volume of 711,007. BrightSpire Capital, Inc. has a 1 year low of $4.16 and a 1 year high of $6.45. The business has a fifty day moving average price of $5.12 and a 200-day moving average price of $5.36. The firm has a market capitalization of $649.05 million, a P/E ratio of -8.88 and a beta of 1.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.46 and a quick ratio of 0.46.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.86%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital's dividend payout ratio is presently -114.29%.

BrightSpire Capital Company 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.