Diversify Wealth Management LLC Has $81,000 Holdings in BrightSpire Capital, Inc. (NYSE:BRSP)

Diversify Wealth Management LLC lessened its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 21.7% during the first quarter, Holdings Channel.com reports. The firm owned 14,630 shares of the company’s stock after selling 4,046 shares during the quarter. Diversify Wealth Management LLC’s holdings in BrightSpire Capital were worth $81,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in BrightSpire Capital by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company’s stock valued at $2,018,000 after buying an additional 2,798 shares during the period. Atria Investments Inc lifted its holdings in BrightSpire Capital by 18.2% in the fourth quarter. Atria Investments Inc now owns 35,869 shares of the company’s stock valued at $202,000 after buying an additional 5,531 shares during the period. Raymond James Financial Inc. acquired a new position in BrightSpire Capital in the fourth quarter valued at $315,000. Cibc World Markets Corp acquired a new position in BrightSpire Capital in the fourth quarter valued at $68,000. Finally, Intech Investment Management LLC lifted its holdings in BrightSpire Capital by 96.2% in the fourth quarter. Intech Investment Management LLC now owns 57,108 shares of the company’s stock valued at $322,000 after buying an additional 27,996 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Trading Up 0.5%

NYSE:BRSP opened at $5.05 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a 50-day moving average of $5.18 and a 200-day moving average of $5.41. The company has a market cap of $658.17 million, a PE ratio of -9.01 and a beta of 1.47. BrightSpire Capital, Inc. has a one year low of $4.16 and a one year high of $6.71.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.69%. The ex-dividend date was Monday, June 30th. BrightSpire Capital’s payout ratio is presently -114.29%.

Analysts Set New Price Targets

Several research firms recently issued reports on BRSP. Jones Trading restated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. JMP Securities decreased their price target 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. Barclays reaffirmed an “underweight” rating and issued a $5.00 price target (down from $7.00) on shares of BrightSpire Capital in a research note on Tuesday, July 8th. Alliance Global Partners reaffirmed a “buy” rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Finally, Industrial Alliance Securities set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.79.

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.