Cibc World Markets Corp Purchases New Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Cibc World Markets Corp acquired a new position in BrightSpire Capital, Inc. (NYSE:BRSP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,089 shares of the company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winthrop Advisory Group LLC bought a new position in shares of BrightSpire Capital during the 4th quarter worth $61,000. Fermata Advisors LLC purchased a new stake in BrightSpire Capital during the fourth quarter valued at about $65,000. Atria Wealth Solutions Inc. bought a new position in BrightSpire Capital during the fourth quarter worth about $72,000. Garden State Investment Advisory Services LLC bought a new position in BrightSpire Capital during the third quarter worth about $75,000. Finally, Allegiance Financial Group Advisory Services LLC increased 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 purchasing an additional 4,434 shares in the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Price Performance

BRSP stock opened at $5.80 on Friday. The firm has a 50 day moving average of $5.88 and a 200-day moving average of $5.88. The firm has a market capitalization of $751.52 million, a P/E ratio of -5.52 and a beta of 1.98. BrightSpire Capital, Inc. has a 12 month low of $5.07 and a 12 month high of $6.93. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $17.46 million during the quarter, compared to the consensus estimate of $65.81 million. BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, sell-side analysts predict that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.16 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.04%. BrightSpire Capital’s payout ratio is currently -60.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Alliance Global Partners assumed coverage on shares of BrightSpire Capital in a report on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective for the company. B. Riley dropped their target price 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.69.

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.