BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Update

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 5,482,993 shares, an increase of 30.5% from the December 15th total of 4,201,543 shares. Approximately 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 850,888 shares, the days-to-cover ratio is presently 6.4 days. Based on an average daily trading volume, of 850,888 shares, the days-to-cover ratio is presently 6.4 days. Approximately 4.3% of the company’s stock are sold short.

BrightSpire Capital Stock Performance

BRSP opened at $5.96 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $772.54 million, a PE ratio of -19.85 and a beta of 1.38. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $5.52. BrightSpire Capital has a 52-week low of $4.16 and a 52-week high of $6.32.

BrightSpire Capital (NYSE:BRSP) last announced its earnings results on Tuesday, October 28th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. BrightSpire Capital had a positive return on equity of 7.51% and a negative net margin of 26.91%.The firm had revenue of $35.05 million during the quarter, compared to analysts’ expectations of $84.43 million. As a group, equities research analysts forecast that BrightSpire Capital will post 0.67 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.7%. The ex-dividend date was Wednesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is -213.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. B. Riley initiated coverage on shares of BrightSpire Capital in a report on Monday, January 5th. They set a “buy” rating and a $7.50 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of BrightSpire Capital in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightSpire Capital in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.40.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds and other institutional investors have recently made changes to their positions in BRSP. National Bank of Canada FI raised its stake in BrightSpire Capital by 50.0% during the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after purchasing an additional 2,500 shares during the last quarter. Xponance Inc. bought a new stake in shares of BrightSpire Capital in the 3rd quarter valued at approximately $55,000. Atria Wealth Solutions Inc. bought a new stake in BrightSpire Capital in the second quarter valued at $53,000. CIBC Private Wealth Group LLC increased its position in shares of BrightSpire Capital by 812.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 10,945 shares of the company’s stock worth $59,000 after purchasing an additional 9,745 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of BrightSpire Capital by 101.2% during the second quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock worth $60,000 after buying an additional 6,001 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

BrightSpire Capital Company Profile

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.