State of New Jersey Common Pension Fund D Buys Shares of 323,452 BrightSpire Capital, Inc. (NYSE:BRSP)

State of New Jersey Common Pension Fund D bought a new stake in BrightSpire Capital, Inc. (NYSE:BRSP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 323,452 shares of the company’s stock, valued at approximately $1,844,000. State of New Jersey Common Pension Fund D owned 0.25% of BrightSpire Capital 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 the company. Capstone Investment Advisors LLC grew its stake in shares of BrightSpire Capital by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $150,000 after acquiring an additional 1,800 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of BrightSpire Capital by 8.5% during the first quarter. ProShare Advisors LLC now owns 23,160 shares of the company’s stock worth $160,000 after purchasing an additional 1,821 shares in the last quarter. PFG Investments LLC grew 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 worth $458,000 after purchasing an additional 2,570 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of BrightSpire Capital by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,155 shares of the company’s stock worth $128,000 after purchasing an additional 3,156 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of BrightSpire Capital by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock worth $727,000 after purchasing an additional 4,269 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $5.88 on Tuesday. 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 company has a market capitalization of $768.14 million, a PE ratio of -10.69 and a beta of 1.89. The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $6.11.

BrightSpire Capital Cuts Dividend

The business 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 10.88%. BrightSpire Capital’s dividend payout ratio is presently -116.36%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. JMP Securities reiterated a “market outperform” rating and set a $7.50 target price on shares of BrightSpire Capital in a research note on Thursday, September 19th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

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.