PFG Investments LLC Purchases New Holdings in BrightSpire Capital, Inc. (NYSE:BRSP)

PFG Investments LLC acquired a new position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 77,799 shares of the company’s stock, valued at approximately $536,000. PFG Investments LLC owned approximately 0.06% of BrightSpire Capital as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of BrightSpire Capital by 2,407.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after purchasing an additional 5,753 shares during the period. Counterpoint Mutual Funds LLC grew its stake in shares of BrightSpire Capital by 40.3% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 16,530 shares of the company’s stock valued at $114,000 after buying an additional 4,749 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of BrightSpire Capital in the 4th quarter valued at approximately $316,000. Quadrature Capital Ltd bought a new position in BrightSpire Capital during the fourth quarter valued at approximately $164,000. Finally, Vanguard Group Inc. raised its position in BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BrightSpire Capital

In other news, insider David A. Palame sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the transaction, the insider now directly owns 347,832 shares in the company, valued at $2,351,344.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.06% of the stock is currently owned by corporate insiders.

BrightSpire Capital Stock Performance

NYSE:BRSP traded up $0.02 during midday trading on Monday, reaching $6.43. The stock had a trading volume of 322,995 shares, compared to its average volume of 709,952. The stock has a market capitalization of $839.36 million, a P/E ratio of -49.42 and a beta of 1.89. BrightSpire Capital, Inc. has a 1-year low of $5.20 and a 1-year high of $8.01. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. The firm’s fifty day simple moving average is $6.64 and its 200-day simple moving average is $6.76.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.20 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.45%. BrightSpire Capital’s payout ratio is presently -615.38%.

Analyst Ratings Changes

Several brokerages have recently commented on BRSP. Bank of America lowered shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a research note on Monday, March 4th. Barclays upped their price target on BrightSpire Capital from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, January 22nd.

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.