Almitas Capital LLC Increases Position in BrightSpire Capital, Inc. $BRSP

Almitas Capital LLC increased its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 34.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,415 shares of the company’s stock after buying an additional 122,093 shares during the quarter. BrightSpire Capital comprises approximately 0.9% of Almitas Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Almitas Capital LLC owned 0.37% of BrightSpire Capital worth $2,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRSP. Bank of America Corp DE raised its position in shares of BrightSpire Capital by 56.0% in the fourth quarter. Bank of America Corp DE now owns 158,229 shares of the company’s stock worth $892,000 after acquiring an additional 56,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in BrightSpire Capital by 40.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company’s stock valued at $1,698,000 after acquiring an additional 87,242 shares in the last quarter. Millennium Management LLC grew its stake in BrightSpire Capital by 281.1% during the 4th quarter. Millennium Management LLC now owns 131,743 shares of the company’s stock valued at $743,000 after acquiring an additional 97,175 shares in the last quarter. Two Sigma Investments LP grew its stake in BrightSpire Capital by 13.6% during the 4th quarter. Two Sigma Investments LP now owns 536,444 shares of the company’s stock valued at $3,026,000 after acquiring an additional 64,384 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of BrightSpire Capital by 7.6% in the 4th quarter. Northern Trust Corp now owns 1,287,299 shares of the company’s stock valued at $7,260,000 after buying an additional 91,263 shares during the period. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BRSP. Barclays reissued an “underweight” rating and issued a $5.00 price target (down previously from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Jones Trading reiterated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.79.

BrightSpire Capital Trading Down 0.8%

Shares of BrightSpire Capital stock opened at $5.76 on Wednesday. BrightSpire Capital, Inc. has a 1 year low of $4.16 and a 1 year high of $6.45. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $748.09 million, a P/E ratio of -26.16 and a beta of 1.61. The company’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.33.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Monday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is presently -290.91%.

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.