Geode Capital Management LLC Grows Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Geode Capital Management LLC boosted its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,082,637 shares of the company’s stock after buying an additional 14,606 shares during the period. Geode Capital Management LLC owned 2.38% of BrightSpire Capital worth $17,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRSP. PFG Investments LLC raised its position in BrightSpire Capital by 3.3% in the 2nd quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock valued at $458,000 after purchasing an additional 2,570 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in BrightSpire Capital by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock valued at $289,000 after acquiring an additional 3,608 shares during the period. Sei Investments Co. raised its stake in BrightSpire Capital by 14.4% during the 2nd quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock valued at $204,000 after acquiring an additional 4,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BrightSpire Capital by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,893 shares of the company’s stock valued at $222,000 after purchasing an additional 4,683 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of BrightSpire Capital by 27.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 25,131 shares of the company’s stock valued at $134,000 after purchasing an additional 5,482 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.00.

BrightSpire Capital Stock Down 2.0 %

Shares of NYSE BRSP opened at $5.83 on Monday. The stock has a market capitalization of $756.06 million, a price-to-earnings ratio of -5.72 and a beta of 1.87. BrightSpire Capital, Inc. has a 52 week low of $5.07 and a 52 week high of $7.72. The firm has a 50-day moving average price of $6.06 and a 200 day moving average price of $5.90. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.98%. The ex-dividend date is Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is -62.75%.

BrightSpire Capital 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.