Waterfall Asset Management LLC Has $3.50 Million Holdings in BrightSpire Capital, Inc. $BRSP

Waterfall Asset Management LLC grew its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 225.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 644,158 shares of the company’s stock after buying an additional 446,358 shares during the quarter. BrightSpire Capital makes up 0.4% of Waterfall Asset Management LLC’s holdings, making the stock its 10th biggest holding. Waterfall Asset Management LLC owned approximately 0.50% of BrightSpire Capital worth $3,498,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Xponance Inc. bought a new stake in BrightSpire Capital during the 3rd quarter worth $55,000. Tower Research Capital LLC TRC grew its holdings in shares of BrightSpire Capital by 101.2% during the second quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock worth $60,000 after purchasing an additional 6,001 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of BrightSpire Capital by 73.2% in the second quarter. BNP Paribas Financial Markets now owns 12,576 shares of the company’s stock valued at $64,000 after buying an additional 5,314 shares during the period. M&T Bank Corp raised its holdings in BrightSpire Capital by 22.5% in the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after buying an additional 2,501 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in BrightSpire Capital during the 3rd quarter worth approximately $72,000. 56.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRSP. Barclays boosted their price objective on shares of BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, February 19th. JonesTrading reiterated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, February 18th. B. Riley Financial began coverage on BrightSpire Capital in a research note on Monday, January 5th. They issued a “buy” rating and a $7.50 price target for the company. Finally, Weiss Ratings lowered BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and a consensus target price of $6.60.

BrightSpire Capital Stock Performance

Shares of BrightSpire Capital stock opened at $5.82 on Monday. The business has a 50-day moving average price of $5.85 and a two-hundred day moving average price of $5.67. BrightSpire Capital, Inc. has a 1-year low of $4.16 and a 1-year high of $6.32. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.21. The company has a market cap of $747.98 million, a P/E ratio of -22.36, a PEG ratio of 2.16 and a beta of 1.39.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date was Wednesday, December 31st. BrightSpire Capital’s payout ratio is presently -246.15%.

BrightSpire Capital Company Profile

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.