Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Grows By 12.8%

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,820,000 shares, an increase of 12.8% from the August 15th total of 2,500,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 865,700 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Separately, BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.33.

Institutional Trading of BrightSpire Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in shares of BrightSpire Capital by 2,407.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after buying an additional 5,753 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of BrightSpire Capital in the fourth quarter valued at $45,000. EverSource Wealth Advisors LLC increased its stake in shares of BrightSpire Capital by 5,602.8% in the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock valued at $59,000 after buying an additional 10,085 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in shares of BrightSpire Capital in the second quarter valued at $62,000. Finally, RFG Advisory LLC acquired a new stake in shares of BrightSpire Capital in the second quarter valued at $68,000. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Stock Performance

BrightSpire Capital stock opened at $6.10 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a fifty day moving average price of $5.89 and a two-hundred day moving average price of $6.13. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $8.01. The firm has a market capitalization of $796.88 million, a P/E ratio of -11.09 and a beta of 1.89.

BrightSpire Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.49%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -116.36%.

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.