Punch & Associates Investment Management Inc. Has $10.21 Million Stake 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. decreased its position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,836,035 shares of the company's stock after selling 391,178 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.41% of BrightSpire Capital worth $10,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BRSP. Raymond James Financial Inc. acquired a new position in BrightSpire Capital in the fourth quarter valued at $315,000. Price T Rowe Associates Inc. MD lifted its holdings in BrightSpire Capital by 16.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 137,369 shares of the company's stock valued at $775,000 after buying an additional 19,184 shares during the period. Northern Trust Corp lifted its holdings in BrightSpire Capital by 7.6% in the fourth quarter. Northern Trust Corp now owns 1,287,299 shares of the company's stock valued at $7,260,000 after buying an additional 91,263 shares during the period. Algert Global LLC acquired a new position in BrightSpire Capital in the fourth quarter valued at $135,000. Finally, Ameriprise Financial Inc. lifted its holdings in BrightSpire Capital by 26.6% in the fourth quarter. Ameriprise Financial Inc. now owns 160,788 shares of the company's stock valued at $907,000 after buying an additional 33,819 shares during the period. Institutional investors and hedge funds own 56.57% of the company's stock.

BrightSpire Capital Trading Up 0.8%

NYSE:BRSP opened at $5.95 on Friday. 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 has a 50-day moving average of $5.34 and a 200-day moving average of $5.33. The company has a market cap of $772.79 million, a PE ratio of -27.02 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.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 10.8%. BrightSpire Capital's payout ratio is presently -290.91%.

Analyst Ratings Changes

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

Want to see what other hedge funds are holding BRSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BrightSpire Capital, Inc. (NYSE:BRSP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.