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

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,980,000 shares, a growth of 14.5% from the October 15th total of 1,730,000 shares. Based on an average trading volume of 785,000 shares, the short-interest ratio is currently 2.5 days. Approximately 1.6% of the shares of the company are sold short.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Private Advisor Group LLC increased its position in 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 position in BrightSpire Capital during the 2nd quarter worth approximately $1,844,000. Van ECK Associates Corp boosted its stake in shares of BrightSpire Capital by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after acquiring an additional 275,175 shares in the last quarter. Barclays PLC boosted its stake in shares of BrightSpire Capital by 329.1% during the 3rd quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after acquiring an additional 152,131 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of BrightSpire Capital by 50.1% during the 2nd quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock worth $1,677,000 after acquiring an additional 98,236 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $6.22 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The stock’s 50-day moving average price is $5.74 and its 200 day moving average price is $5.87. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $8.01. The stock has a market capitalization of $806.61 million, a PE ratio of -6.10 and a beta of 1.87.

Analyst Ratings Changes

Separately, JMP Securities restated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and an average target price of $7.00.

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.