HELP with clsoed brain coral

[Thunder3]

This is either a favia or a Montastraea brain coral. I just got this yesterday. He is losing some tissue. I am not sure why. Calcium - 500, ALK is 10, PH 8.1-8.3, nitrate is under 5.0ppm, phosphate reads 0. This is all from API test kit, temp is 79, 1.025 - 1.026. I just read the Montastraea are difficult species. Any suggestions. I already dipped him this morning after noticing the recession of tissue. I have a 75 gallon tank with a Maxspect Razor fixture. I do 55% white and 75% blue for 4 hours and have 2 hour ramping up to this and 2 hours after this lighting ramping down. 8 hours total.
Should I move him to more or less light???

 

[hillscp]

Is the light new?

Edit: Sorry - I just saw that the coral is new. I would move it out of the light (toward the edge) or in some shade. Probably getting more light than it's accustomed to.