Atria Wealth Solutions Inc. Makes New $320,000 Investment in BrightSpire Capital, Inc. (NYSE:BRSP)

Atria Wealth Solutions Inc. bought a new position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 43,004 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in BrightSpire Capital by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 441,497 shares of the company’s stock worth $2,764,000 after acquiring an additional 2,296 shares during the period. Arizona State Retirement System boosted its holdings in shares of BrightSpire Capital by 6.7% in the 3rd quarter. Arizona State Retirement System now owns 36,999 shares of the company’s stock worth $232,000 after buying an additional 2,325 shares during the last quarter. Private Advisor Group LLC grew its position in BrightSpire Capital by 2.0% during the third quarter. Private Advisor Group LLC now owns 146,184 shares of the company’s stock valued at $915,000 after buying an additional 2,839 shares during the period. HighTower Advisors LLC increased its holdings in BrightSpire Capital by 6.2% during the third quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock worth $322,000 after buying an additional 3,000 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in BrightSpire Capital by 2.4% in the third quarter. Merit Financial Group LLC now owns 126,774 shares of the company’s stock worth $794,000 after acquiring an additional 3,026 shares during the period. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BRSP. Barclays reduced their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Bank of America downgraded BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 target price for the company. in a research report on Monday, March 4th. Finally, Raymond James cut BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd.

Insider Activity

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the transaction, the insider now directly owns 347,832 shares in the company, valued at $2,351,344.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.06% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $6.11 on Wednesday. The firm’s 50 day moving average is $6.58 and its 200 day moving average is $6.77. The stock has a market capitalization of $798.21 million, a P/E ratio of -11.11 and a beta of 1.89. BrightSpire Capital, Inc. has a 12 month low of $5.20 and a 12 month high of $8.01. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.63.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $27.43 million for the quarter, compared to analysts’ expectations of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same quarter in the prior year, the company earned $0.26 EPS. On average, sell-side analysts anticipate that BrightSpire Capital, Inc. will post 0.9 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.09%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s payout ratio is presently -145.45%.

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.