Private Management Group Inc. Has $25.59 Million Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Private Management Group Inc. lifted its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,489,186 shares of the company’s stock after acquiring an additional 39,732 shares during the quarter. Private Management Group Inc. owned approximately 3.44% of BrightSpire Capital worth $25,588,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Oak Thistle LLC acquired a new stake in BrightSpire Capital during the 2nd quarter valued at $68,000. Private Advisor Group LLC raised its position 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 purchasing an additional 340,563 shares during the period. Founders Financial Securities LLC bought a new position in shares of BrightSpire Capital in the second quarter valued at about $62,000. Van ECK Associates Corp lifted its stake in shares of BrightSpire Capital by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after buying an additional 275,175 shares during the last quarter. Finally, Anfield Capital Management LLC bought a new stake in shares of BrightSpire Capital during the 2nd quarter worth about $89,000. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Stock Performance

BRSP opened at $5.66 on Monday. The stock has a fifty day moving average of $5.89 and a 200-day moving average of $6.18. BrightSpire Capital, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $8.01. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 11.31%. The ex-dividend date of this dividend is Monday, September 30th. BrightSpire Capital’s dividend payout ratio is -145.45%.

Analysts Set New Price Targets

Separately, BTIG Research reissued 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 assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.33.

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.