BrightSpire Capital, Inc. $BRSP Stock: Private Management Group Inc. Raises Holdings

Private Management Group Inc. lifted its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 29.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,315,577 shares of the company’s stock after acquiring an additional 1,438,092 shares during the period. Private Management Group Inc. owned 0.05% of BrightSpire Capital worth $24,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its position in BrightSpire Capital by 6.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 111,078 shares of the company’s stock valued at $425,000 after acquiring an additional 6,874 shares during the period. Inscription Capital LLC acquired a new position in BrightSpire Capital during the 3rd quarter worth $114,000. Bfsg LLC boosted its position in BrightSpire Capital by 25.2% during the 3rd quarter. Bfsg LLC now owns 32,910 shares of the company’s stock worth $126,000 after acquiring an additional 6,630 shares during the period. Vise Technologies Inc. acquired a new position in BrightSpire Capital during the 3rd quarter worth $70,000. Finally, Signaturefd LLC grew its stake in shares of BrightSpire Capital by 364.2% in the third quarter. Signaturefd LLC now owns 18,512 shares of the company’s stock worth $71,000 after purchasing an additional 14,524 shares in the last quarter. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Trading Up 1.0%

Shares of BrightSpire Capital stock opened at $3.38 on Tuesday. The business has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $5.17. BrightSpire Capital, Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $6.16. The firm has a market cap of $420.80 million, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 2.82 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.79.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Tuesday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. BrightSpire Capital had a return on equity of 5.82% and a net margin of 27.63%. The firm had revenue of $109.77 million for the quarter, compared to analyst estimates of $83.56 million. On average, equities analysts forecast that BrightSpire Capital, Inc. will post 0.44 EPS for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 19.0%. BrightSpire Capital’s dividend payout ratio (DPR) is 492.31%.

Wall Street Analysts Forecast Growth

BRSP has been the topic of a number of research analyst reports. Wall Street Zen lowered BrightSpire Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. B. Riley Financial reduced their price objective on shares of BrightSpire Capital from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Barclays reduced their price objective on shares of BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Monday, October 5th. The Goldman Sachs Group upgraded shares of BrightSpire Capital to a “buy” rating in a research report on Wednesday, October 7th. Finally, Zacks Research cut shares of BrightSpire Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat, BrightSpire Capital has a consensus rating of “Hold” and a consensus target price of $5.85.

About BrightSpire Capital

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing a portfolio of commercial real estate debt and related investments.

BrightSpire’s investments primarily include senior mortgage loans, mezzanine loans, preferred equity and other real estate-related credit investments. Its portfolio may be secured by properties across several commercial real estate sectors, including office, multifamily, industrial, hospitality, retail and other specialized property types.

The company serves commercial real estate owners, operators and developers primarily in the United States.