State of New Jersey Common Pension Fund D purchased a new position in BrightSpire Capital, Inc. (NYSE:BRSP – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 273,535 shares of the company's stock, valued at approximately $1,726,000. State of New Jersey Common Pension Fund D owned 0.21% of BrightSpire Capital at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Spire Wealth Management acquired a new position in shares of BrightSpire Capital during the second quarter valued at approximately $28,000. Captrust Financial Advisors acquired a new position in shares of BrightSpire Capital during the second quarter valued at approximately $45,000. Private Trust Co. NA acquired a new position in shares of BrightSpire Capital during the second quarter valued at approximately $48,000. Point72 Hong Kong Ltd acquired a new position in shares of BrightSpire Capital during the first quarter valued at approximately $51,000. Finally, Quantbot Technologies LP acquired a new position in shares of BrightSpire Capital during the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 38.18% of the company's stock.
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Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Jonestrading assumed coverage on BrightSpire Capital in a research report on Monday, December 5th. They issued a "buy" rating for the company. BTIG Research lowered BrightSpire Capital from a "buy" rating to a "neutral" rating in a research report on Tuesday, December 6th. Finally, Raymond James dropped their price target on BrightSpire Capital from $11.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, October 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, BrightSpire Capital currently has an average rating of "Moderate Buy" and an average target price of $10.25.
BrightSpire Capital Trading Up 1.1 %
Shares of BrightSpire Capital stock opened at $7.30 on Friday. The firm has a market capitalization of $941.44 million, a price-to-earnings ratio of 7.77 and a beta of 1.68. BrightSpire Capital, Inc. has a fifty-two week low of $6.11 and a fifty-two week high of $9.64. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day moving average of $6.88 and a 200 day moving average of $7.53.
BrightSpire Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 10.96%. BrightSpire Capital's dividend payout ratio is currently 85.11%.
About BrightSpire Capital
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BrightSpire Capital, Inc operates as a real estate investment trust. It originates, acquires, finances, and manages diversified portfolio consisting primarily of commercial real estate (CRE) senior mortgage loans, mezzanine loans, preferred equity, debt securities and net leased properties predominantly in the United States.
Further Reading
- Get a free copy of the StockNews.com research report on BrightSpire Capital (BRSP)
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