Cambridge Investment Research Advisors Inc. Lowers Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 476,634 shares of the company’s stock after selling 34,150 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.36% of BrightSpire Capital worth $3,284,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in shares of 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. Norges Bank acquired a new stake in BrightSpire Capital in the 4th quarter worth about $6,726,000. Vanguard Group Inc. boosted its stake in BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after purchasing an additional 873,407 shares during the last quarter. WealthPlan Investment Management LLC acquired a new position in BrightSpire Capital during the third quarter worth about $1,792,000. Finally, Alpine Global Management LLC lifted its stake in BrightSpire Capital by 449.0% in the 3rd quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock worth $1,972,000 after purchasing an additional 257,619 shares in the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRSP has been the topic of several recent analyst reports. Raymond James lowered shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Barclays decreased their target price on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research report on Monday, March 4th.

BrightSpire Capital Stock Performance

Shares of NYSE:BRSP traded down $0.07 during midday trading on Tuesday, hitting $5.80. The stock had a trading volume of 449,784 shares, compared to its average volume of 713,461. The company has a market capitalization of $757.71 million, a PE ratio of -10.55 and a beta of 1.91. BrightSpire Capital, Inc. has a 1 year low of $5.20 and a 1 year high of $8.01. The stock has a 50 day moving average price of $6.18 and a two-hundred day moving average price of $6.76. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.63.

BrightSpire Capital (NYSE:BRSP) last issued its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. The company had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period last year, the business posted $0.26 earnings per share. As a group, equities analysts predict that BrightSpire Capital, Inc. will post 0.82 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.20 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 annualized dividend and a yield of 13.79%. BrightSpire Capital’s payout ratio is currently -145.45%.

Insider Buying and Selling

In other news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 347,832 shares in the company, valued at approximately $2,351,344.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.06% of the stock is currently owned by company insiders.

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.