Federated Hermes Inc. Acquires 6,297 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Federated Hermes Inc. grew its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,588,384 shares of the company’s stock after acquiring an additional 6,297 shares during the period. Federated Hermes Inc. owned about 1.22% of BrightSpire Capital worth $9,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new position in shares of BrightSpire Capital during the second quarter valued at about $1,844,000. PFG Investments LLC raised its stake in shares of BrightSpire Capital by 3.3% during the second quarter. PFG Investments LLC now owns 80,369 shares of the company’s stock valued at $458,000 after acquiring an additional 2,570 shares during the last quarter. Private Management Group Inc. raised its stake in shares of BrightSpire Capital by 0.9% during the second quarter. Private Management Group Inc. now owns 4,489,186 shares of the company’s stock valued at $25,588,000 after acquiring an additional 39,732 shares during the last quarter. Oak Thistle LLC bought a new position in shares of BrightSpire Capital during the second quarter valued at about $68,000. Finally, Private Advisor Group LLC raised its stake in shares of BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock valued at $2,775,000 after acquiring an additional 340,563 shares during the last quarter. 56.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, BTIG Research reaffirmed a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.33.

BrightSpire Capital Price Performance

BRSP stock opened at $6.10 on Wednesday. BrightSpire Capital, Inc. has a 1 year low of $5.07 and a 1 year high of $8.01. The company has a market cap of $796.88 million, a P/E ratio of -11.09 and a beta of 1.89. The firm has a 50-day moving average of $5.89 and a 200 day moving average of $6.13. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 10.49%. The ex-dividend date of this dividend is Monday, September 30th. BrightSpire Capital’s payout ratio is currently -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.