BrightSpire Capital, Inc. (NYSE:BRSP) Director Catherine Rice Buys 7,000 Shares of Stock

Posted by on Jun 17th, 2022

BrightSpire Capital, Inc. (NYSE:BRSP – Get Rating) Director Catherine Rice purchased 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average cost of $7.19 per share, with a total value of $50,330.00. Following the completion of the transaction, the director now directly owns 65,138 shares of the company’s stock, valued at approximately $468,342.22. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of BRSP opened at $7.15 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $937.22 million, a price-to-earnings ratio of 47.67 and a beta of 1.64. The stock has a 50 day moving average of $8.53 and a 200 day moving average of $9.06. BrightSpire Capital, Inc. has a 12 month low of $7.09 and a 12 month high of $10.68.

BrightSpire Capital (NYSE:BRSP – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). BrightSpire Capital had a net margin of 13.73% and a return on equity of 7.51%. During the same period in the previous year, the company earned $0.11 EPS. As a group, equities research analysts predict that BrightSpire Capital, Inc. will post 0.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 11.19%. This is a positive change from BrightSpire Capital’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, June 29th. BrightSpire Capital’s dividend payout ratio is 506.70%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stockman Wealth Management Inc. grew its holdings in BrightSpire Capital by 3.5% during the first quarter. Stockman Wealth Management Inc. now owns 41,640 shares of the company’s stock valued at $385,000 after purchasing an additional 1,390 shares during the period. Public Employees Retirement System of Ohio grew its holdings in BrightSpire Capital by 41.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,871 shares of the company’s stock valued at $50,000 after purchasing an additional 1,433 shares during the period. Cetera Investment Advisers grew its holdings in BrightSpire Capital by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 48,127 shares of the company’s stock valued at $494,000 after purchasing an additional 1,694 shares during the period. California State Teachers Retirement System grew its holdings in BrightSpire Capital by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 117,340 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,030 shares during the period. Finally, Voya Investment Management LLC grew its holdings in BrightSpire Capital by 5.9% during the third quarter. Voya Investment Management LLC now owns 37,293 shares of the company’s stock valued at $350,000 after purchasing an additional 2,088 shares during the period. 66.22% of the stock is owned by institutional investors and hedge funds.

Separately, Bank of America assumed coverage on BrightSpire Capital in a research report on Friday, February 18th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, BrightSpire Capital presently has an average rating of “Buy” and a consensus price target of $11.25.

BrightSpire Capital Company Profile (Get Rating)

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. It focuses on originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.

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