ProShare Advisors LLC Sells 5,894 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

ProShare Advisors LLC lessened its position in BrightSpire Capital, Inc. (NYSE:BRSP) by 25.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,266 shares of the company’s stock after selling 5,894 shares during the period. ProShare Advisors LLC’s holdings in BrightSpire Capital were worth $98,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BRSP. Vanguard Group Inc. increased its holdings in BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after buying an additional 873,407 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of BrightSpire Capital by 232.7% in 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 period. Van ECK Associates Corp raised its stake in shares of BrightSpire Capital by 34.7% in the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after acquiring an additional 275,175 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of BrightSpire Capital by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after acquiring an additional 4,269 shares during the period. Finally, Cetera Advisors LLC increased its stake in BrightSpire Capital by 23.7% in the 1st quarter. Cetera Advisors LLC now owns 62,951 shares of the company’s stock worth $434,000 after buying an additional 12,050 shares during the period. Institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

BrightSpire Capital Stock Up 0.5 %

Shares of NYSE:BRSP opened at $5.51 on Monday. The firm’s 50-day moving average is $5.72 and its two-hundred day moving average is $6.04. 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 1 year low of $5.07 and a 1 year high of $8.01. The firm has a market capitalization of $719.80 million, a PE ratio of -10.02 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 11.62%. BrightSpire Capital’s dividend payout ratio is currently -116.36%.

BrightSpire Capital 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.