BrightSpire Capital, Inc. (NYSE:BRSP) Sees Significant Decrease in Short Interest

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,710,000 shares, a drop of 13.6% from the October 31st total of 1,980,000 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 696,200 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRSP. Private Advisor Group LLC grew its holdings in shares of BrightSpire Capital by 232.7% during 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 during the period. State of New Jersey Common Pension Fund D acquired a new stake in BrightSpire Capital in the 2nd quarter valued at $1,844,000. Van ECK Associates Corp raised its position in BrightSpire Capital by 34.7% in the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after purchasing an additional 275,175 shares during the period. Barclays PLC lifted its stake in shares of BrightSpire Capital by 329.1% during the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after purchasing an additional 152,131 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of BrightSpire Capital by 50.1% in the second quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock valued at $1,677,000 after buying an additional 98,236 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Trading Down 0.6 %

Shares of NYSE BRSP traded down $0.04 on Tuesday, reaching $6.34. 45,028 shares of the company traded hands, compared to its average volume of 753,072. BrightSpire Capital has a fifty-two week low of $5.07 and a fifty-two week high of $8.01. The company has a 50 day moving average of $5.81 and a 200 day moving average of $5.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78.

Analyst Ratings Changes

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 analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, BrightSpire Capital presently has a consensus rating of “Hold” and an average target price of $7.00.

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.