Franklin Resources Inc. Sells 2,960 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Franklin Resources Inc. lowered its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 125,727 shares of the company’s stock after selling 2,960 shares during the quarter. Franklin Resources Inc.’s holdings in BrightSpire Capital were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC grew its position in BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock valued at $2,775,000 after acquiring an additional 340,563 shares during the last quarter. Atria Investments Inc raised its holdings in BrightSpire Capital by 34.5% in the third quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock worth $170,000 after purchasing an additional 7,779 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of BrightSpire Capital by 34.7% during the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after purchasing an additional 275,175 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of BrightSpire Capital by 50.1% in the second quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock worth $1,677,000 after acquiring an additional 98,236 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of BrightSpire Capital by 22.9% during the third quarter. Penserra Capital Management LLC now owns 160,335 shares of the company’s stock valued at $897,000 after buying an additional 29,915 shares during the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Price Performance

NYSE BRSP opened at $5.83 on Monday. The stock has a market cap of $756.06 million, a price-to-earnings ratio of -5.72 and a beta of 1.87. BrightSpire Capital, Inc. has a 12 month low of $5.07 and a 12 month high of $7.72. The company’s 50 day moving average is $6.06 and its two-hundred day moving average is $5.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.16 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 10.98%. BrightSpire Capital’s payout ratio is -62.75%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and set a $7.50 price objective on shares of BrightSpire Capital in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and an average target price of $7.00.

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.