The Vanguard Group, Inc. recently announced the acquisition of new stake in BrightSpire Capital Inc (NYSE:BRSP). The institutional investor has increased its shareholding in the Real Estate company by 8.96% to 13.35 million shares with purchase of 1.1 million shares. This fresh investment now brings its stake to 10.27% valued currently at $99.35 million. In addition, Geode Capital Management LLC raised its holdings by 0.11 million to 2.74 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.40% or 62962.0 shares – to 2.69 million shares.
With over 0.48 million BrightSpire Capital Inc (BRSP) shares trading Friday and a closing price of $7.29 on the day, the dollar volume was approximately $3.49 million. The shares have shown a positive half year performance of 1.96% and its price on 01/12/24 lost nearly -1.09%. Currently, there are 128.87M common shares owned by the public and among those 127.27M shares have been available to trade.
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Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 772,974 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 35,202,030 shares.
The top 3 mutual fund holders in BrightSpire Capital Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 3.76 million shares of the company’s stock, all valued at over $28.0 million. iShares Russell 2000 ETF sold 9810.0 shares to see its total holdings shrink to 3.7 million shares valued at over $27.55 million and representing 2.85% of the shares outstanding. Vanguard Small Cap Index Fund bought 38149.0 shares to bring its total holdings to over 3.38 million shares at a value of $25.14 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.60% of the shares outstanding.
Shares of BrightSpire Capital Inc (NYSE: BRSP) opened at $7.48, up $0.11 from a prior closing price of $7.37. The company’s stock has a 5-day price change of -0.14% and 17.58% over the past three months. BRSP shares are trading -2.02% year to date (YTD), with the 12-month market performance up to 3.55% higher. It has a 12-month low price of $5.20 and touched a high of $8.01 over the same period. BRSP has an average intraday trading volume of 836.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.10%, 4.83%, and 12.79% respectively.
Institutional ownership of BrightSpire Capital Inc (NYSE: BRSP) shares accounts for 59.90% of the company’s 128.87M shares outstanding. Mutual fund holders own 29.25%, while other institutional holders and individual stakeholders account for 33.24% and 26.80% respectively.
It has a market capitalization of $947.63M and a beta (3y monthly) value of 1.95. The stock’s trailing 12-month PE ratio is 234.41, while the earnings-per-share (ttm) stands at $0.03. The company has a debt-to-equity ratio at 2.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.23% over the week and 2.60% over the month.
Analysts forecast that BrightSpire Capital Inc (BRSP) will achieve an EPS of $0.23 for the current quarter, $0.18 for the next quarter and $0.87 for 2024. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 2.24%, and -16.77% over the next financial year.
Looking at the support for the BRSP, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on November 15, 2023, with the firm’s price target at $6.
