Kingswood Wealth Advisors LLC Reduces Stake in BrightSpire Capital, Inc. $BRSP

Kingswood Wealth Advisors LLC reduced its stake in BrightSpire Capital, Inc. (NYSE:BRSP) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,473 shares of the company’s stock after selling 14,473 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in BrightSpire Capital were worth $73,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in BrightSpire Capital in the 1st quarter valued at $57,000. M&T Bank Corp purchased a new stake in BrightSpire Capital in the 1st quarter valued at $62,000. Arkadios Wealth Advisors purchased a new stake in BrightSpire Capital in the 1st quarter valued at $65,000. Allworth Financial LP grew its holdings in BrightSpire Capital by 2,719.2% in the 1st quarter. Allworth Financial LP now owns 17,733 shares of the company’s stock valued at $99,000 after buying an additional 17,104 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of BrightSpire Capital during the 1st quarter worth $105,000. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Price Performance

BRSP opened at $5.07 on Monday. The stock’s 50-day moving average price is $5.59 and its 200 day moving average price is $5.24. BrightSpire Capital, Inc. has a 12-month low of $4.16 and a 12-month high of $6.45. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.79. The firm has a market cap of $659.05 million, a price-to-earnings ratio of -23.05 and a beta of 1.54.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Wednesday, February 24th. The company reported $0.20 earnings per share (EPS) for the quarter. BrightSpire Capital had a positive return on equity of 7.74% and a negative net margin of 16.92%.The firm had revenue of $37.88 million for the quarter. As a group, sell-side analysts expect that BrightSpire Capital, Inc. will post 0.67 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.64 annualized dividend and a yield of 12.6%. BrightSpire Capital’s dividend payout ratio is presently -290.91%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BRSP. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightSpire Capital in a report on Saturday, September 27th. Jones Trading reiterated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 30th. Finally, Barclays reiterated an “underweight” rating and set a $5.00 price target (down from $7.00) on shares of BrightSpire Capital in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.79.

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.