Geode Capital Management LLC Sells 33,930 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Geode Capital Management LLC reduced its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,048,707 shares of the company’s stock after selling 33,930 shares during the quarter. Geode Capital Management LLC’s holdings in BrightSpire Capital were worth $17,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Barclays PLC grew its position in BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after acquiring an additional 152,131 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of BrightSpire Capital by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company’s stock worth $6,400,000 after purchasing an additional 129,120 shares in the last quarter. Private Management Group Inc. raised its holdings in shares of BrightSpire Capital by 1.3% during the 4th quarter. Private Management Group Inc. now owns 4,632,732 shares of the company’s stock valued at $26,129,000 after buying an additional 57,759 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of BrightSpire Capital during the 4th quarter valued at about $315,000. Finally, J.W. Cole Advisors Inc. lifted its position in BrightSpire Capital by 46.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 157,857 shares of the company’s stock worth $890,000 after buying an additional 49,834 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BRSP. Jones Trading reduced their price objective on BrightSpire Capital from $7.25 to $6.50 and set a “buy” rating on the stock in a research note on Thursday. B. Riley decreased their price target on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Alliance Global Partners started coverage on BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, BrightSpire Capital has an average rating of “Moderate Buy” and an average target price of $7.45.

BrightSpire Capital Price Performance

NYSE BRSP opened at $4.51 on Friday. The business’s fifty day moving average is $5.58 and its 200 day moving average is $5.76. BrightSpire Capital, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $6.71. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The company has a market capitalization of $588.61 million, a PE ratio of -4.29 and a beta of 1.54.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The business had revenue of $17.46 million during the quarter, compared to the consensus estimate of $65.81 million. During the same period last year, the company earned $0.28 EPS. Sell-side analysts predict that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.64 annualized dividend and a yield of 14.21%. BrightSpire Capital’s payout ratio is currently -60.95%.

About BrightSpire Capital

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.