Diversify Wealth Management LLC Sells 2,907 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Diversify Wealth Management LLC trimmed its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,738 shares of the company’s stock after selling 2,907 shares during the quarter. Diversify Wealth Management LLC’s holdings in BrightSpire Capital were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after buying an additional 873,407 shares in the last quarter. Private Management Group Inc. grew its position in BrightSpire Capital by 0.9% during the 2nd quarter. Private Management Group Inc. now owns 4,489,186 shares of the company’s stock worth $25,588,000 after acquiring an additional 39,732 shares during the last quarter. Federated Hermes Inc. increased its holdings in BrightSpire Capital by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock worth $9,054,000 after purchasing an additional 6,297 shares in the last quarter. Van ECK Associates Corp raised its position in BrightSpire Capital by 34.7% in the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after purchasing an additional 275,175 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of BrightSpire Capital by 14.5% during the third quarter. Private Advisor Group LLC now owns 557,638 shares of the company’s stock valued at $3,123,000 after purchasing an additional 70,752 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. BTIG Research restated a “neutral” rating on shares of BrightSpire Capital in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, BrightSpire Capital has an average rating of “Hold” and an average target price of $7.00.

BrightSpire Capital Trading Down 4.3 %

Shares of BRSP stock opened at $5.82 on Friday. BrightSpire Capital, Inc. has a 1-year low of $5.07 and a 1-year high of $8.01. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The stock has a market cap of $760.27 million, a price-to-earnings ratio of -5.71 and a beta of 1.89. The stock has a 50-day moving average of $5.67 and a 200-day moving average of $5.89.

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.