Raymond James Financial Inc. Acquires New Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Raymond James Financial Inc. bought a new position in BrightSpire Capital, Inc. (NYSE:BRSP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,785 shares of the company's stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Investments Inc boosted its stake in BrightSpire Capital by 18.2% in the 4th quarter. Atria Investments Inc now owns 35,869 shares of the company's stock worth $202,000 after purchasing an additional 5,531 shares in the last quarter. Allegiance Financial Group Advisory Services LLC lifted its stake in shares of BrightSpire Capital by 30.3% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company's stock worth $108,000 after buying an additional 4,434 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of BrightSpire Capital by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company's stock worth $2,018,000 after buying an additional 2,798 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of BrightSpire Capital during the fourth quarter valued at approximately $72,000. Finally, J.W. Cole Advisors Inc. increased its position 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 valued at $890,000 after acquiring an additional 49,834 shares in the last quarter. 56.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BRSP has been the topic of several analyst reports. Alliance Global Partners started coverage on BrightSpire Capital in a research report on Friday, January 17th. They issued a "buy" rating and a $7.25 price objective on the stock. B. Riley dropped their price objective on BrightSpire Capital from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.69.

BrightSpire Capital Stock Performance

BRSP traded up $0.02 during mid-day trading on Tuesday, reaching $4.44. 101,229 shares of the company traded hands, compared to its average volume of 762,875. The company's fifty day moving average price is $5.68 and its 200-day moving average price is $5.79. The stock has a market capitalization of $579.60 million, a P/E ratio of -4.23 and a beta of 1.54. 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.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $17.46 million during the quarter, compared to analysts' expectations of $65.81 million. During the same period in the previous year, the business posted $0.28 earnings per share. On average, sell-side analysts expect that BrightSpire Capital, Inc. will post 0.67 EPS for the current year.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.16 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.64 annualized dividend and a dividend yield of 14.43%. BrightSpire Capital's dividend payout ratio (DPR) is -60.95%.

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.