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

BrightSpire Capital, Inc. (NYSE:BRSP) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,070,000 shares, a growth of 32.7% from the December 31st total of 1,560,000 shares. Based on an average daily trading volume, of 613,300 shares, the short-interest ratio is currently 3.4 days. Approximately 1.6% of the shares of the stock are short sold.

BrightSpire Capital Price Performance

NYSE BRSP traded up $0.05 during trading hours on Thursday, reaching $5.65. 479,648 shares of the stock traded hands, compared to its average volume of 575,271. The stock has a 50 day simple moving average of $5.95 and a two-hundred day simple moving average of $5.86. BrightSpire Capital has a 1 year low of $5.07 and a 1 year high of $7.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $732.04 million, a price-to-earnings ratio of -5.53 and a beta of 1.88.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 11.34%. BrightSpire Capital’s dividend payout ratio is currently -62.75%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of BrightSpire Capital by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 50,752 shares of the company’s stock worth $289,000 after buying an additional 3,608 shares during the period. Sei Investments Co. grew its stake in shares of BrightSpire Capital by 14.4% in the second quarter. Sei Investments Co. now owns 35,773 shares of the company’s stock worth $204,000 after purchasing an additional 4,500 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of BrightSpire Capital by 27.9% in the third quarter. Diversify Advisory Services LLC now owns 25,131 shares of the company’s stock worth $134,000 after purchasing an additional 5,482 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of BrightSpire Capital by 363.1% in the third quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock worth $52,000 after purchasing an additional 7,265 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of BrightSpire Capital by 34.5% in the third quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock worth $170,000 after purchasing an additional 7,779 shares during the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. B. Riley dropped their price objective on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Alliance Global Partners began coverage on BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.45.

BrightSpire Capital Company 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.