Merit Financial Group LLC Sells 1,690 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Merit Financial Group LLC cut its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,084 shares of the company’s stock after selling 1,690 shares during the quarter. Merit Financial Group LLC owned approximately 0.10% of BrightSpire Capital worth $931,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BRSP. Federated Hermes Inc. lifted its stake in BrightSpire Capital by 307.0% in the third quarter. Federated Hermes Inc. now owns 1,502,492 shares of the company’s stock worth $9,406,000 after acquiring an additional 1,133,342 shares during the period. WealthPlan Investment Management LLC purchased a new position in shares of BrightSpire Capital in the 3rd quarter worth approximately $1,792,000. Alpine Global Management LLC lifted its position in BrightSpire Capital by 449.0% during the third quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock valued at $1,972,000 after acquiring an additional 257,619 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BrightSpire Capital by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,446,629 shares of the company’s stock valued at $9,056,000 after acquiring an additional 73,396 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in BrightSpire Capital by 0.6% in the third quarter. Vanguard Group Inc. now owns 12,480,508 shares of the company’s stock worth $78,128,000 after purchasing an additional 71,369 shares during the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRSP has been the topic of several recent analyst reports. Barclays reduced their target price on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday. Raymond James lowered shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Bank of America lowered shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target for the company. in a research report on Monday, March 4th.

Insider Activity

In other news, insider David A. Palame sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the transaction, the insider now directly owns 347,832 shares in the company, valued at approximately $2,351,344.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.06% of the company’s stock.

BrightSpire Capital Stock Down 2.4 %

NYSE:BRSP opened at $6.02 on Monday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.48 and a current ratio of 0.48. The company has a fifty day moving average of $6.59 and a two-hundred day moving average of $6.77. BrightSpire Capital, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $8.01.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities research analysts forecast that BrightSpire Capital, Inc. will post 0.9 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio is presently -145.45%.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.