JPMorgan Chase & Co. Sells 498,266 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

JPMorgan Chase & Co. cut its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 25.8% during the third quarter, Holdings Channel reports. The fund owned 1,436,189 shares of the company’s stock after selling 498,266 shares during the quarter. JPMorgan Chase & Co.’s holdings in BrightSpire Capital were worth $8,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Garden State Investment Advisory Services LLC bought a new position in BrightSpire Capital in the third quarter valued at approximately $75,000. Barclays PLC boosted its holdings in shares of BrightSpire Capital by 329.1% during the 3rd quarter. Barclays PLC now owns 198,351 shares of the company’s stock valued at $1,110,000 after acquiring an additional 152,131 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of BrightSpire Capital by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,082,637 shares of the company’s stock valued at $17,267,000 after purchasing an additional 14,606 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in BrightSpire Capital by 27.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 170,967 shares of the company’s stock worth $957,000 after buying an additional 36,579 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of BrightSpire Capital by 19.7% in the third quarter. Jane Street Group LLC now owns 193,470 shares of the company’s stock worth $1,083,000 after purchasing an additional 31,865 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. B. Riley lowered their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $7.50 price objective 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 two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.50.

BrightSpire Capital Price Performance

Shares of NYSE BRSP opened at $5.63 on Wednesday. The company has a market capitalization of $730.13 million, a PE ratio of -5.52 and a beta of 1.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The stock’s 50 day moving average price is $6.08 and its 200-day moving average price is $5.88. BrightSpire Capital, Inc. has a twelve month low of $5.07 and a twelve month high of $7.71.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.37%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

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.