Prudential Financial Inc. Cuts Position in BrightSpire Capital, Inc. (NYSE:BRSP)

Prudential Financial Inc. lowered its position in BrightSpire Capital, Inc. (NYSE:BRSP) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,714 shares of the company’s stock after selling 38,400 shares during the quarter. Prudential Financial Inc.’s holdings in BrightSpire Capital were worth $263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRSP. Barclays PLC raised its holdings in shares of BrightSpire Capital by 329.1% in the 3rd quarter. Barclays PLC now owns 198,351 shares of the company’s stock valued at $1,110,000 after purchasing an additional 152,131 shares in the last quarter. Van ECK Associates Corp increased its holdings in BrightSpire Capital by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 1,134,821 shares of the company’s stock valued at $6,400,000 after buying an additional 129,120 shares during the last quarter. Private Management Group Inc. raised its stake in BrightSpire Capital by 1.3% in the fourth quarter. Private Management Group Inc. now owns 4,632,732 shares of the company’s stock valued at $26,129,000 after buying an additional 57,759 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in BrightSpire Capital during the 4th quarter worth about $315,000. Finally, J.W. Cole Advisors Inc. boosted its position in shares of BrightSpire Capital by 46.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 157,857 shares of the company’s stock worth $890,000 after acquiring an additional 49,834 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Stock Down 6.2 %

Shares of NYSE BRSP opened at $4.45 on Friday. The business has a 50-day moving average price of $5.73 and a 200 day moving average price of $5.81. The stock has a market cap of $580.77 million, a PE 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 $4.27 and a 52-week high of $6.71.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share 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 analyst estimates 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 company posted $0.28 earnings per share. Equities research analysts forecast that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 14.40%. BrightSpire Capital’s dividend payout ratio is presently -60.95%.

Analyst Ratings Changes

A number of research firms have recently commented on BRSP. 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 report on Tuesday, January 7th. Alliance Global Partners began coverage on shares of BrightSpire Capital in a research report on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.