MML Investors Services LLC Cuts Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

MML Investors Services LLC lessened its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,144 shares of the company’s stock after selling 3,946 shares during the quarter. MML Investors Services LLC owned 0.11% of BrightSpire Capital worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Private Management Group Inc. increased its holdings in shares of BrightSpire Capital by 1.9% in the third quarter. Private Management Group Inc. now owns 4,574,973 shares of the company’s stock worth $25,620,000 after buying an additional 85,787 shares during the period. Federated Hermes Inc. grew its position in BrightSpire Capital by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock worth $9,054,000 after acquiring an additional 6,297 shares during the last quarter. Van ECK Associates Corp increased its stake in BrightSpire Capital by 34.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after purchasing an additional 275,175 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in BrightSpire Capital by 7.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,028,517 shares of the company’s stock valued at $5,760,000 after purchasing an additional 70,030 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of BrightSpire Capital by 14.5% during the third quarter. Private Advisor Group LLC now owns 557,638 shares of the company’s stock valued at $3,123,000 after purchasing an additional 70,752 shares during the period. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Trading Up 1.2 %

BRSP opened at $5.97 on Friday. BrightSpire Capital, Inc. has a one year low of $5.07 and a one year high of $8.01. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50 day simple moving average of $6.01 and a two-hundred day simple moving average of $5.90. The firm has a market capitalization of $774.22 million, a price-to-earnings ratio of -5.85 and a beta of 1.87.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.72%. The ex-dividend date of this dividend is Tuesday, December 31st. BrightSpire Capital’s payout ratio is -62.75%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.00.

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.