BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume – What’s Next?

BrightSpire Capital, Inc. (NYSE:BRSP) shares saw an uptick in trading volume on Tuesday . 2,435,716 shares traded hands during mid-day trading, an increase of 330% from the previous session’s volume of 566,624 shares.The stock last traded at $5.57 and had previously closed at $5.56.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Alliance Global Partners assumed coverage on BrightSpire Capital in a research report on Friday, January 17th. They set a “buy” rating and a $7.25 price target for the company. B. Riley dropped their price target on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have 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 $7.45.

BrightSpire Capital Stock Up 2.1 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $735.93 million, a PE ratio of -5.55 and a beta of 1.88. The business’s 50-day moving average price is $5.92 and its 200-day moving average price is $5.84.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date of this dividend was Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is currently -62.75%.

Institutional Trading of BrightSpire Capital

Several hedge funds and other institutional investors have recently modified their holdings of BRSP. Sei Investments Co. increased its stake in shares of BrightSpire Capital by 14.4% in the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after purchasing an additional 4,500 shares during the period. The Manufacturers Life Insurance Company increased its stake in BrightSpire Capital by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock valued at $289,000 after acquiring an additional 3,608 shares during the period. Algert Global LLC bought a new stake in shares of BrightSpire Capital in the 2nd quarter worth approximately $75,000. SG Americas Securities LLC acquired a new position in shares of BrightSpire Capital in the third quarter valued at $162,000. Finally, ORG Partners LLC bought a new stake in BrightSpire Capital in the 3rd quarter valued at $53,000. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

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.