Merit Financial Group LLC Buys 5,647 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Merit Financial Group LLC increased its holdings in BrightSpire Capital, Inc. (NYSE:BRSP) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,222 shares of the company’s stock after buying an additional 5,647 shares during the period. Merit Financial Group LLC’s holdings in BrightSpire Capital were worth $624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRSP. Ameriflex Group Inc. purchased a new stake in BrightSpire Capital during the fourth quarter valued at about $37,000. Brevan Howard Capital Management LP bought a new stake in shares of BrightSpire Capital in the 4th quarter worth approximately $57,000. Dark Forest Capital Management LP purchased a new position in BrightSpire Capital in the 4th quarter worth approximately $64,000. Cibc World Markets Corp purchased a new position in BrightSpire Capital in the 4th quarter worth approximately $68,000. Finally, Atria Wealth Solutions Inc. purchased a new position in BrightSpire Capital in the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BRSP shares. JMP Securities decreased their target price on shares of BrightSpire Capital from $7.50 to $6.50 and set a “market outperform” rating for the company in a research note on Tuesday, April 22nd. Jones Trading restated a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. Finally, Alliance Global Partners reissued a “buy” rating on shares of BrightSpire Capital in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.15.

BrightSpire Capital Trading Up 1.1%

NYSE:BRSP opened at $5.27 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The firm has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $5.59. BrightSpire Capital, Inc. has a 12 month low of $4.16 and a 12 month high of $6.71. The company has a market capitalization of $686.88 million, a P/E ratio of -5.01 and a beta of 1.50.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.16 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.64 dividend on an annualized basis and a yield of 12.16%. BrightSpire Capital’s payout ratio is -114.29%.

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.