Punch & Associates Investment Management Inc. Trims Holdings in BrightSpire Capital, Inc. $BRSP

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in BrightSpire Capital, Inc. by 17.6%, holding approximately 1.41% of the company worth about $10.21 million after selling over 391,000 shares recently.
• BrightSpire Capital announced a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 10.8%, despite having a negative payout ratio of -290.91%.
• Equity analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $6.79; Barclays has set a lower target price of $5.00.

Punch & Associates Investment Management Inc. trimmed its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 17.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,836,035 shares of the company's stock after selling 391,178 shares during the period. Punch & Associates Investment Management Inc. owned about 1.41% of BrightSpire Capital worth $10,208,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Private Management Group Inc. raised its stake in shares of BrightSpire Capital by 2.7% during the 1st quarter. Private Management Group Inc. now owns 4,758,232 shares of the company's stock worth $26,456,000 after buying an additional 125,500 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in BrightSpire Capital during the first quarter worth about $18,085,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in BrightSpire Capital by 23.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,950,366 shares of the company's stock worth $10,844,000 after buying an additional 368,414 shares in the last quarter. North Ground Capital boosted its holdings in BrightSpire Capital by 89.7% during the first quarter. North Ground Capital now owns 1,461,028 shares of the company's stock worth $8,123,000 after buying an additional 691,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BrightSpire Capital by 8.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,349,062 shares of the company's stock worth $7,501,000 after buying an additional 107,265 shares in the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jones Trading reissued a "buy" rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, July 30th. Barclays restated an "underweight" rating and set a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, BrightSpire Capital currently has a consensus rating of "Moderate Buy" and an average target price of $6.79.

BrightSpire Capital Trading Up 0.7%

NYSE:BRSP traded up $0.04 on Thursday, reaching $5.94. The stock had a trading volume of 918,624 shares, compared to its average volume of 712,878. The company has a market cap of $772.14 million, a price-to-earnings ratio of -27.00 and a beta of 1.61. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54. The firm's fifty day moving average is $5.38 and its two-hundred day moving average is $5.33. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.45.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date was Monday, June 30th. BrightSpire Capital's dividend payout ratio is -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.