WealthPlan Investment Management LLC Purchases Shares of 286,316 BrightSpire Capital, Inc. (NYSE:BRSP)

WealthPlan Investment Management LLC purchased a new stake in shares of BrightSpire Capital, Inc. (NYSE:BRSPFree Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 286,316 shares of the company’s stock, valued at approximately $1,792,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its position in BrightSpire Capital by 29.1% in the 2nd quarter. BlackRock Inc. now owns 10,680,533 shares of the company’s stock valued at $71,880,000 after purchasing an additional 2,408,895 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of BrightSpire Capital by 39.2% during the third quarter. Vanguard Group Inc. now owns 8,820,067 shares of the company’s stock valued at $55,654,000 after buying an additional 2,485,731 shares during the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of BrightSpire Capital during the first quarter worth approximately $16,207,000. Geode Capital Management LLC increased its position in BrightSpire Capital by 24.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,632,373 shares of the company’s stock valued at $17,716,000 after acquiring an additional 522,495 shares during the period. Finally, State Street Corp raised its stake in BrightSpire Capital by 16.6% during the 2nd quarter. State Street Corp now owns 2,626,788 shares of the company’s stock valued at $18,199,000 after acquiring an additional 373,861 shares in the last quarter. 57.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JMP Securities cut their target price on BrightSpire Capital from $9.50 to $8.50 and set a “market outperform” rating on the stock in a research note on Wednesday, November 1st. Barclays lifted their target price on BrightSpire Capital from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Check Out Our Latest Stock Analysis on BRSP

BrightSpire Capital Stock Up 0.6 %

Shares of BRSP stock opened at $6.69 on Friday. BrightSpire Capital, Inc. has a 1 year low of $5.20 and a 1 year high of $8.01. The stock has a market cap of $869.63 million, a PE ratio of 223.00 and a beta of 1.91. The business’s fifty day moving average is $7.31 and its 200-day moving average is $6.76. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.56 and a current ratio of 0.56.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Sunday, December 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 11.96%. The ex-dividend date of this dividend was Thursday, December 28th. BrightSpire Capital’s dividend payout ratio (DPR) is presently 2,666.67%.

About BrightSpire Capital

(Free Report)

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

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Institutional Ownership by Quarter for BrightSpire Capital (NYSE:BRSP)

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