BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Up 27.6% in August

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 3,700,000 shares, a growth of 27.6% from the July 31st total of 2,900,000 shares. Based on an average daily trading volume, of 660,500 shares, the short-interest ratio is presently 5.6 days. Currently, 2.9% of the shares of the company are sold short. Currently, 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 660,500 shares, the short-interest ratio is presently 5.6 days.

BrightSpire Capital Trading Up 0.4%

Shares of BrightSpire Capital stock opened at $5.91 on Thursday. The stock has a market cap of $767.59 million, a PE ratio of -26.84 and a beta of 1.61. The firm has a fifty day moving average price of $5.38 and a 200 day moving average price of $5.33. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.45. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.54 and a quick ratio of 0.54.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a dividend of $0.16 per share. The ex-dividend date was Monday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.8%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -290.91%.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently modified their holdings of BRSP. M&T Bank Corp grew its holdings in BrightSpire Capital by 22.5% during the second quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after acquiring an additional 2,501 shares during the period. Cetera Investment Advisers lifted its holdings in BrightSpire Capital by 4.5% in the first quarter. Cetera Investment Advisers now owns 74,753 shares of the company’s stock valued at $416,000 after acquiring an additional 3,224 shares during the period. HighTower Advisors LLC boosted its position in BrightSpire Capital by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 95,316 shares of the company’s stock worth $530,000 after purchasing an additional 3,916 shares in the last quarter. Everstar Asset Management LLC grew its stake in shares of BrightSpire Capital by 7.4% during the 2nd quarter. Everstar Asset Management LLC now owns 74,667 shares of the company’s stock worth $377,000 after purchasing an additional 5,151 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of BrightSpire Capital by 25.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,763 shares of the company’s stock worth $141,000 after purchasing an additional 5,186 shares during the period. Institutional investors and hedge funds own 56.57% of the company’s stock.

Wall Street Analyst Weigh In

BRSP has been the topic of several research reports. Barclays reissued an “underweight” rating and issued a $5.00 target price (down from $7.00) on shares of BrightSpire Capital in a research report on Tuesday, July 8th. Jones Trading reiterated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, BrightSpire Capital currently has an average rating of “Moderate Buy” and an average target price of $6.79.

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.