Kovack Advisors Inc. Cuts Stake in BrightSpire Capital, Inc. (NYSE:BRSP)

Kovack Advisors Inc. lessened its stake in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 17.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,647 shares of the company’s stock after selling 3,287 shares during the period. Kovack Advisors Inc.’s holdings in BrightSpire Capital were worth $88,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BRSP. Allspring Global Investments Holdings LLC increased its position in BrightSpire Capital by 2,407.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock worth $41,000 after buying an additional 5,753 shares during the last quarter. ProShare Advisors LLC raised its stake in BrightSpire Capital by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 23,160 shares of the company’s stock valued at $160,000 after acquiring an additional 1,821 shares during the period. Alpine Global Management LLC lifted its holdings in BrightSpire Capital by 85.3% during the first quarter. Alpine Global Management LLC now owns 62,934 shares of the company’s stock valued at $434,000 after purchasing an additional 28,967 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BrightSpire Capital by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock worth $727,000 after purchasing an additional 4,269 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of BrightSpire Capital by 23.7% in the first quarter. Cetera Advisors LLC now owns 62,951 shares of the company’s stock worth $434,000 after purchasing an additional 12,050 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

Wall Street Analyst Weigh In

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

BrightSpire Capital Stock Down 1.1 %

Shares of NYSE BRSP opened at $6.22 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The company has a market cap of $806.64 million, a P/E ratio of -6.10 and a beta of 1.87. BrightSpire Capital, Inc. has a 52 week low of $5.07 and a 52 week high of $8.01. The business has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $5.87.

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.