Commonwealth Equity Services LLC Has $596,000 Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Commonwealth Equity Services LLC lowered its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,524 shares of the company’s stock after selling 14,392 shares during the quarter. Commonwealth Equity Services LLC owned about 0.08% of BrightSpire Capital worth $596,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in BrightSpire Capital during the 4th quarter worth $6,726,000. Vanguard Group Inc. grew its holdings in shares of BrightSpire Capital by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of BrightSpire Capital by 3.0% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of BrightSpire Capital by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after acquiring an additional 4,269 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its holdings 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 purchasing an additional 14,048 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

BRSP has been the subject of a number of research analyst reports. BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. JMP Securities reiterated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, BrightSpire Capital presently has an average rating of “Hold” and an average target price of $7.00.

BrightSpire Capital Stock Down 3.4 %

Shares of BRSP opened at $5.98 on Friday. BrightSpire Capital, Inc. has a one year low of $5.07 and a one year high of $8.01. The company has a market cap of $781.20 million, a P/E ratio of -10.87 and a beta of 1.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a 50 day simple moving average of $5.89 and a two-hundred day simple moving average of $6.13.

BrightSpire Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 10.70%. BrightSpire Capital’s dividend payout ratio is currently -116.36%.

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.