Rhumbline Advisers Sells 3,378 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Rhumbline Advisers reduced its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209,982 shares of the company’s stock after selling 3,378 shares during the quarter. Rhumbline Advisers owned 0.16% of BrightSpire Capital worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRSP. Vanguard Group Inc. lifted its holdings in BrightSpire Capital by 7.0% in the fourth 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 during the period. Private Management Group Inc. lifted its holdings in BrightSpire Capital by 0.4% in the first quarter. Private Management Group Inc. now owns 4,449,454 shares of the company’s stock valued at $30,657,000 after acquiring an additional 17,111 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 period. Van ECK Associates Corp lifted its holdings in BrightSpire Capital by 34.7% in the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after acquiring an additional 275,175 shares during the period. Finally, Norges Bank bought a new position in BrightSpire Capital in the fourth quarter valued at about $6,726,000. 56.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BRSP. JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday. BTIG Research reaffirmed a “neutral” rating on shares of BrightSpire Capital in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and a consensus price target of $7.00.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $5.98 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46. BrightSpire Capital, Inc. has a 1 year low of $5.07 and a 1 year high of $8.01. The stock’s 50 day simple moving average is $5.88 and its two-hundred day simple moving average is $6.13. The company has a market cap of $781.20 million, a price-to-earnings ratio of -10.87 and a beta of 1.89.

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 paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date of this dividend 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.