BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) shares saw an uptick in trading volume on Wednesday . 1,098,060 shares changed hands during mid-day trading, an increase of 54% from the previous session's volume of 712,029 shares.The stock last traded at $6.24 and had previously closed at $6.29.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays raised their price target on BrightSpire Capital from $6.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, January 22nd. Bank of America downgraded shares of BrightSpire Capital from a "neutral" rating to an "underperform" rating and set a $6.50 price target for the company. in a report on Monday, March 4th.

BrightSpire Capital Stock Performance

The company has a 50 day simple moving average of $6.63 and a 200 day simple moving average of $6.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.62. The stock has a market cap of $813.86 million, a price-to-earnings ratio of -47.92 and a beta of 1.89.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 12.84%. BrightSpire Capital's dividend payout ratio is currently -615.38%.

Insider Transactions at BrightSpire Capital

In other news, insider David A. Palame sold 50,000 shares of BrightSpire Capital stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the sale, the insider now directly owns 347,832 shares of the company's stock, valued at $2,351,344.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.06% of the company's stock.

Hedge Funds Weigh In On BrightSpire Capital

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of BrightSpire Capital by 307.0% during the third quarter. Federated Hermes Inc. now owns 1,502,492 shares of the company's stock worth $9,406,000 after acquiring an additional 1,133,342 shares during the last quarter. Norges Bank bought a new position in BrightSpire Capital during the 4th quarter worth approximately $6,726,000. Vanguard Group Inc. lifted its position in shares of BrightSpire Capital by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company's stock worth $99,353,000 after purchasing an additional 873,407 shares during the period. WealthPlan Investment Management LLC bought a new stake in shares of BrightSpire Capital in the 3rd quarter valued at $1,792,000. Finally, Alpine Global Management LLC increased its position in shares of BrightSpire Capital by 449.0% during the third quarter. Alpine Global Management LLC now owns 315,000 shares of the company's stock worth $1,972,000 after buying an additional 257,619 shares during the period. Institutional investors own 56.57% of the company's stock.

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.