BrightSpire Capital, Inc. (NYSE:BRSP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,666 shares of the company’s stock after selling 2,278 shares during the quarter. Principal Financial Group Inc.’s holdings in BrightSpire Capital were worth $72,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRSP. Norges Bank purchased a new position in BrightSpire Capital during the fourth quarter worth about $6,726,000. Vanguard Group Inc. raised its position in shares of BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after buying an additional 873,407 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in BrightSpire Capital by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock valued at $11,086,000 after acquiring an additional 43,415 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in BrightSpire Capital by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock worth $727,000 after acquiring an additional 4,269 shares during the period. Finally, Founders Financial Alliance LLC increased its stake in BrightSpire Capital by 59.3% during the fourth quarter. Founders Financial Alliance LLC now owns 37,724 shares of the company’s stock worth $281,000 after acquiring an additional 14,048 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.33.

BrightSpire Capital Stock Down 0.2 %

BrightSpire Capital stock opened at $5.90 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a 50 day moving average price of $5.88 and a 200 day moving average price of $6.14. BrightSpire Capital, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $8.01. The company has a market capitalization of $770.75 million, a PE ratio of -10.73 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 10.85%. The ex-dividend date is Monday, September 30th. BrightSpire Capital’s payout ratio is -116.36%.

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.