Private Management Group Inc. Boosts Position 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. boosted its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,758,232 shares of the company's stock after purchasing an additional 125,500 shares during the quarter. Private Management Group Inc. owned approximately 3.65% of BrightSpire Capital worth $26,456,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BRSP. CF Capital LLC purchased a new stake in shares of BrightSpire Capital in the fourth quarter valued at $4,343,000. Gratia Capital LLC purchased a new stake in shares of BrightSpire Capital in the fourth quarter valued at $3,384,000. Almitas Capital LLC purchased a new stake in shares of BrightSpire Capital in the fourth quarter valued at $2,010,000. Balyasny Asset Management L.P. lifted its position in shares of BrightSpire Capital by 16.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,132,234 shares of the company's stock valued at $6,386,000 after acquiring an additional 163,790 shares in the last quarter. Finally, Greenland Capital Management LP lifted its position in shares of BrightSpire Capital by 11.5% in the fourth quarter. Greenland Capital Management LP now owns 1,070,000 shares of the company's stock valued at $6,035,000 after acquiring an additional 110,000 shares in the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Price Performance

BRSP stock opened at $4.99 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.46 and a current ratio of 0.46. BrightSpire Capital, Inc. has a 1 year low of $4.16 and a 1 year high of $6.45. The firm has a market cap of $650.34 million, a P/E ratio of -8.90 and a beta of 1.47. The stock has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $5.37.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.84%. BrightSpire Capital's dividend payout ratio (DPR) is currently -114.29%.

Analyst Upgrades and Downgrades

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

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.

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