BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume – Still a Buy?

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) saw an uptick in trading volume on Tuesday . 2,435,716 shares changed hands 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BRSP shares. Alliance Global Partners began coverage on BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price objective on the stock. B. Riley dropped their price target on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and an average target price of $7.45.

BrightSpire Capital Price Performance

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 capitalization of $746.31 million, a P/E ratio of -5.64 and a beta of 1.88. The business’s 50-day moving average price is $5.90 and its 200 day moving average price is $5.83.

BrightSpire Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.12%. The ex-dividend date was Tuesday, December 31st. BrightSpire Capital’s payout ratio is -62.75%.

Institutional Trading of BrightSpire Capital

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of BrightSpire Capital by 14.4% in the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after purchasing an additional 4,500 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of BrightSpire Capital by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after buying an additional 3,608 shares during the last quarter. Algert Global LLC purchased a new position in shares of BrightSpire Capital during the second quarter valued at approximately $75,000. SG Americas Securities LLC bought a new position in shares of BrightSpire Capital during the third quarter valued at approximately $162,000. Finally, ORG Partners LLC purchased a new stake in BrightSpire Capital in the third quarter worth $53,000. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

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.