Kovack Advisors Inc. Sells 3,287 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Kovack Advisors Inc. decreased its holdings in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 17.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Management Group Inc. increased its position in shares of BrightSpire Capital by 1.9% during the 3rd quarter. Private Management Group Inc. now owns 4,574,973 shares of the company’s stock valued at $25,620,000 after purchasing an additional 85,787 shares during the last quarter. Federated Hermes Inc. increased its position in shares of BrightSpire Capital by 0.4% during the second quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock valued at $9,054,000 after buying an additional 6,297 shares during the period. Van ECK Associates Corp raised its position in shares of BrightSpire Capital by 34.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after acquiring an additional 275,175 shares in the last quarter. Private Advisor Group LLC raised its holdings in BrightSpire Capital by 14.5% in the third quarter. Private Advisor Group LLC now owns 557,638 shares of the company’s stock worth $3,123,000 after purchasing an additional 70,752 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of BrightSpire Capital by 10.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock worth $2,596,000 after acquiring an additional 42,553 shares in the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Price Performance

NYSE BRSP opened at $6.22 on Friday. BrightSpire Capital, Inc. has a one year low of $5.07 and a one year high of $8.01. The stock has a 50-day moving average of $5.74 and a 200 day moving average of $5.87. 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 company has a market capitalization of $806.64 million, a price-to-earnings ratio of -6.10 and a beta of 1.87.

Analyst Upgrades and Downgrades

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

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.