Y Intercept Hong Kong Ltd Trims Stock Holdings in BrightSpire Capital, Inc. $BRSP

Y Intercept Hong Kong Ltd cut its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 45.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,294 shares of the company’s stock after selling 96,607 shares during the period. Y Intercept Hong Kong Ltd’s holdings in BrightSpire Capital were worth $657,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in BrightSpire Capital by 90.1% in the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock valued at $610,000 after purchasing an additional 51,977 shares during the last quarter. AQR Capital Management LLC purchased a new position in BrightSpire Capital during the 1st quarter worth $131,000. Goldman Sachs Group Inc. increased its stake in BrightSpire Capital by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock valued at $11,184,000 after purchasing an additional 46,749 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of BrightSpire Capital by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock valued at $1,828,000 after buying an additional 27,713 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of BrightSpire Capital by 257.9% in the first quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock valued at $1,594,000 after buying an additional 206,610 shares during the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Stock Performance

Shares of BRSP opened at $5.25 on Tuesday. The stock has a market capitalization of $684.62 million, a P/E ratio of -19.46 and a beta of 1.28. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. BrightSpire Capital, Inc. has a 1 year low of $4.87 and a 1 year high of $6.16. The company’s fifty day moving average is $5.60 and its two-hundred day moving average is $5.73.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $51.75 million during the quarter, compared to analyst estimates of $63.12 million. BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%. On average, sell-side analysts predict that BrightSpire Capital, Inc. will post 0.51 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 12.2%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -237.04%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BRSP shares. Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, JonesTrading reaffirmed a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.75.

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.