BrightSpire Capital, Inc. (NYSE:BRSP) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 0.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,082,637 shares of the company’s stock after acquiring an additional 14,606 shares during the period. Geode Capital Management LLC’s holdings in BrightSpire Capital were worth $17,267,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Avior Wealth Management LLC grew its position in shares of BrightSpire Capital by 363.1% in the third quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock valued at $52,000 after purchasing an additional 7,265 shares during the period. ORG Partners LLC acquired a new stake in BrightSpire Capital in the 3rd quarter worth about $53,000. EverSource Wealth Advisors LLC boosted its stake in BrightSpire Capital by 5,602.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after buying an additional 10,085 shares during the last quarter. McAdam LLC purchased a new stake in BrightSpire Capital in the 3rd quarter valued at about $58,000. Finally, Founders Financial Securities LLC purchased a new position in shares of BrightSpire Capital during the 2nd quarter worth about $62,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $5.83 on Monday. BrightSpire Capital, Inc. has a twelve month low of $5.07 and a twelve month high of $7.72. The firm has a market capitalization of $756.06 million, a price-to-earnings ratio of -5.72 and a beta of 1.87. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78. The firm’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $5.90.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 10.98%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.