Sei Investments Co. Grows Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Sei Investments Co. raised its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,773 shares of the company’s stock after acquiring an additional 4,500 shares during the period. Sei Investments Co.’s holdings in BrightSpire Capital were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BRSP. Vanguard Group Inc. grew 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 buying an additional 873,407 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of BrightSpire Capital in the 4th quarter worth approximately $164,000. HighPoint Advisor Group LLC purchased a new position in shares of BrightSpire Capital in the 4th quarter valued at approximately $316,000. Counterpoint Mutual Funds LLC raised its stake in BrightSpire Capital by 40.3% during the first quarter. Counterpoint Mutual Funds LLC now owns 16,530 shares of the company’s stock valued at $114,000 after buying an additional 4,749 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in BrightSpire Capital by 2,407.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after buying an additional 5,753 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Price Performance

NYSE:BRSP opened at $5.34 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $697.56 million, a P/E ratio of -5.24 and a beta of 1.89. BrightSpire Capital, Inc. has a 12 month low of $5.07 and a 12 month high of $8.01. The business’s 50-day moving average is $5.67 and its 200 day moving average is $6.00.

BrightSpire Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.99%. BrightSpire Capital’s dividend payout ratio is currently -62.75%.

Wall Street Analysts Forecast Growth

BRSP has been the subject of several research analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. JMP Securities reissued a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and an average target price of $7.00.

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.