Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Expands By 10.4%

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,980,000 shares, an increase of 10.4% from the September 15th total of 2,700,000 shares. Based on an average daily volume of 912,900 shares, the short-interest ratio is currently 3.3 days. Currently, 2.3% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $7.50 price objective on shares of BrightSpire Capital in a research report on Thursday, September 19th. BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, BrightSpire Capital has an average rating of “Hold” and a consensus target price of $7.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of BrightSpire Capital by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares in the last quarter. Private Advisor Group LLC lifted its holdings in BrightSpire Capital by 232.7% in the 2nd quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock worth $2,775,000 after purchasing an additional 340,563 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in BrightSpire Capital during the 2nd quarter valued at approximately $1,844,000. Van ECK Associates Corp grew its holdings in BrightSpire Capital by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after buying an additional 275,175 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in BrightSpire Capital by 50.1% in the 2nd quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock valued at $1,677,000 after acquiring an additional 98,236 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors.

BrightSpire Capital Stock Performance

BrightSpire Capital stock traded up $0.01 during trading on Thursday, reaching $5.48. The company had a trading volume of 604,308 shares, compared to its average volume of 770,341. The firm’s 50-day simple moving average is $5.68 and its 200 day simple moving average is $5.96. BrightSpire Capital has a 52 week low of $5.07 and a 52 week high of $8.01. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $715.89 million, a price-to-earnings ratio of -9.95 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.68%. BrightSpire Capital’s payout ratio is currently -116.36%.

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.