PFG Investments LLC Takes $536,000 Position in BrightSpire Capital, Inc. (NYSE:BRSP)

PFG Investments LLC bought a new position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,799 shares of the company’s stock, valued at approximately $536,000.

A number of other hedge funds have also added to or reduced their stakes in BRSP. Allspring Global Investments Holdings LLC grew its stake in BrightSpire Capital by 2,407.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after purchasing an additional 5,753 shares in the last quarter. Quest Partners LLC bought a new position in shares of BrightSpire Capital in the fourth quarter valued at $45,000. SG Americas Securities LLC acquired a new position in BrightSpire Capital during the third quarter worth $63,000. Arlington Trust Co LLC bought a new stake in BrightSpire Capital during the fourth quarter worth $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new stake in BrightSpire Capital in the third quarter valued at $75,000. Institutional investors own 56.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRSP. Bank of America lowered 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 note on Monday, March 4th. Barclays boosted their price target on BrightSpire Capital from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 22nd.

Insider Buying and Selling

In other news, insider David A. Palame sold 50,000 shares of the company’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 value of $338,000.00. Following the transaction, the insider now owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.06% of the stock is currently owned by insiders.

BrightSpire Capital Stock Performance

BrightSpire Capital stock traded up $0.02 during mid-day trading on Monday, hitting $6.43. 322,995 shares of the company’s stock traded hands, compared to its average volume of 709,952. BrightSpire Capital, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $8.01. The stock has a market cap of $839.36 million, a price-to-earnings ratio of -49.42 and a beta of 1.89. The firm has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $6.76. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio is presently -615.38%.

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.