BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume – Here’s Why

BrightSpire Capital, Inc. (NYSE:BRSP) shares saw unusually-high trading volume on Tuesday . Approximately 2,435,716 shares were traded during trading, an increase of 330% from the previous session’s volume of 566,624 shares.The stock last traded at $5.57 and had previously closed at $5.56.

Analyst Ratings Changes

BRSP has been the subject of a number of research reports. B. Riley dropped their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Alliance Global Partners initiated coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, BrightSpire Capital currently has an average rating of “Hold” and a consensus price target of $7.45.

BrightSpire Capital Trading Up 0.4 %

The stock has a market cap of $746.31 million, a P/E ratio of -5.64 and a beta of 1.88. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s fifty day simple moving average is $5.90 and its 200-day simple moving average is $5.83.

BrightSpire Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 11.12%. The ex-dividend date was Tuesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is presently -62.75%.

Institutional Trading of BrightSpire Capital

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in BrightSpire Capital in the fourth quarter valued at approximately $315,000. Atria Investments Inc lifted its holdings in shares of BrightSpire Capital by 18.2% in the 4th quarter. Atria Investments Inc now owns 35,869 shares of the company’s stock worth $202,000 after purchasing an additional 5,531 shares in the last quarter. Allegiance Financial Group Advisory Services LLC grew its position in BrightSpire Capital by 30.3% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 19,087 shares of the company’s stock valued at $108,000 after purchasing an additional 4,434 shares during the period. Bank of New York Mellon Corp increased its stake in BrightSpire Capital by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 357,844 shares of the company’s stock valued at $2,018,000 after purchasing an additional 2,798 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in BrightSpire Capital during the fourth quarter worth $72,000. Institutional investors own 56.57% of the company’s stock.

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.