BrightSpire Capital, Inc. (NYSE:BRSP) Shares Sold by Alpine Global Management LLC

Alpine Global Management LLC cut its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 86.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,830 shares of the company’s stock after selling 794,711 shares during the period. Alpine Global Management LLC owned about 0.09% of BrightSpire Capital worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Wealth Solutions Inc. acquired a new stake in BrightSpire Capital in the fourth quarter valued at $72,000. Raymond James Financial Inc. purchased a new position in shares of BrightSpire Capital during the fourth quarter worth about $315,000. J.W. Cole Advisors Inc. grew its holdings in shares of BrightSpire Capital by 46.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 157,857 shares of the company’s stock worth $890,000 after purchasing an additional 49,834 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of BrightSpire Capital by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company’s stock worth $6,400,000 after purchasing an additional 129,120 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of BrightSpire Capital by 7.6% during the fourth quarter. Northern Trust Corp now owns 1,287,299 shares of the company’s stock worth $7,260,000 after purchasing an additional 91,263 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $5.10 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79. BrightSpire Capital, Inc. has a 52-week low of $4.16 and a 52-week high of $6.71. The business’s 50-day moving average price is $5.12 and its 200 day moving average price is $5.69. The firm has a market cap of $664.70 million, a P/E ratio of -4.85 and a beta of 1.53.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The company had revenue of $17.46 million for the quarter, compared to analysts’ expectations of $65.81 million. During the same period in the prior year, the business earned $0.28 EPS. On average, equities research analysts expect that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.56%. The ex-dividend date of this dividend was Monday, March 31st. BrightSpire Capital’s dividend payout ratio is currently -114.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRSP. Industrial Alliance Securities set a $6.50 price objective on BrightSpire Capital in a report on Wednesday, April 30th. Alliance Global Partners reaffirmed a “buy” rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Jones Trading reaffirmed a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, April 30th. Finally, JMP Securities dropped their price objective on BrightSpire Capital from $7.50 to $6.50 and set a “market outperform” rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, BrightSpire Capital currently has an average rating of “Moderate Buy” and a consensus target price of $7.15.

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.