Private Management Group Inc. Has $32.98 Million Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Private Management Group Inc. grew its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,432,343 shares of the company’s stock after acquiring an additional 45,507 shares during the period. BrightSpire Capital accounts for approximately 1.3% of Private Management Group Inc.’s investment portfolio, making the stock its 23rd biggest holding. Private Management Group Inc.’s holdings in BrightSpire Capital were worth $32,977,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Federated Hermes Inc. grew its stake in shares of BrightSpire Capital by 3.9% in the 4th quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock valued at $11,620,000 after buying an additional 59,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BrightSpire Capital by 30.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,210 shares of the company’s stock valued at $255,000 after acquiring an additional 8,004 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of BrightSpire Capital during the fourth quarter valued at approximately $1,720,000. Arlington Trust Co LLC bought a new stake in BrightSpire Capital during the fourth quarter worth $67,000. Finally, Arkadios Wealth Advisors purchased a new position in BrightSpire Capital in the fourth quarter worth $77,000. 56.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BRSP. Barclays raised their target price on BrightSpire Capital from $6.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 22nd. Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a report on Monday, March 4th.

Insider Transactions at BrightSpire Capital

In other BrightSpire Capital news, insider David A. Palame sold 50,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the insider now owns 347,832 shares in the company, valued at $2,351,344.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.06% of the stock is owned by corporate insiders.

BrightSpire Capital Stock Performance

BrightSpire Capital stock traded up $0.08 during trading on Tuesday, hitting $6.50. The stock had a trading volume of 288,837 shares, compared to its average volume of 725,680. The stock’s 50 day moving average is $6.67 and its two-hundred day moving average is $6.76. 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 $849.16 million, a price-to-earnings ratio of -50.00 and a beta of 1.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.62.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.31%. BrightSpire Capital’s dividend payout ratio is presently -615.38%.

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.