Van ECK Associates Corp Increases Stock Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Van ECK Associates Corp grew its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,134,821 shares of the company’s stock after purchasing an additional 129,120 shares during the quarter. Van ECK Associates Corp owned approximately 0.88% of BrightSpire Capital worth $6,400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in BRSP. Diversify Advisory Services LLC grew its stake in 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 acquiring an additional 5,482 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of BrightSpire Capital by 363.1% in the third quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock valued at $52,000 after purchasing an additional 7,265 shares during the last quarter. Atria Investments Inc increased its stake in shares of BrightSpire Capital by 34.5% during the 3rd quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock worth $170,000 after purchasing an additional 7,779 shares in the last quarter. McAdam LLC acquired a new position in shares of BrightSpire Capital during the 3rd quarter worth approximately $58,000. Finally, Winthrop Advisory Group LLC purchased a new stake in BrightSpire Capital in the 4th quarter valued at approximately $61,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRSP has been the topic of several research reports. B. Riley cut their target price on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Alliance Global Partners began coverage on BrightSpire Capital in a report on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, BrightSpire Capital has an average rating of “Hold” and a consensus price target of $7.45.

BrightSpire Capital Trading Up 0.6 %

Shares of NYSE BRSP opened at $5.97 on Tuesday. The company’s 50 day simple moving average is $5.82 and its 200 day simple moving average is $5.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. BrightSpire Capital, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $7.04. The firm has a market capitalization of $773.54 million, a P/E ratio of -5.85 and a beta of 1.88.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.73%. BrightSpire Capital’s payout ratio is presently -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.