Commonwealth Equity Services LLC Sells 14,392 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Commonwealth Equity Services LLC lessened its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,524 shares of the company’s stock after selling 14,392 shares during the quarter. Commonwealth Equity Services LLC’s holdings in BrightSpire Capital were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRSP. TrueMark Investments LLC bought a new stake in shares of BrightSpire Capital in the second quarter worth $426,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BrightSpire Capital by 13.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,893 shares of the company’s stock worth $222,000 after purchasing an additional 4,683 shares during the last quarter. Bank of New York Mellon Corp boosted its position in BrightSpire Capital by 10.3% during the second quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock valued at $2,596,000 after acquiring an additional 42,553 shares during the last quarter. RFG Advisory LLC bought a new stake in BrightSpire Capital during the second quarter valued at $68,000. Finally, Cetera Advisors LLC boosted its position in BrightSpire Capital by 23.7% during the first quarter. Cetera Advisors LLC now owns 62,951 shares of the company’s stock valued at $434,000 after acquiring an additional 12,050 shares during the last quarter. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Trading Down 3.4 %

BRSP opened at $5.98 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46. BrightSpire Capital, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $8.01. The firm has a market capitalization of $781.20 million, a PE ratio of -10.87 and a beta of 1.89. The company’s 50-day moving average is $5.89 and its 200 day moving average is $6.13.

BrightSpire Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.70%. BrightSpire Capital’s dividend payout ratio is presently -116.36%.

Analysts Set New Price Targets

A number of brokerages have commented on BRSP. JMP Securities reaffirmed a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday. BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and an average price target of $7.00.

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.