BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Up 10.4% in September

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,980,000 shares, an increase of 10.4% from the September 15th total of 2,700,000 shares. Based on an average daily volume of 912,900 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $7.50 target price on shares of BrightSpire Capital in a research note on Thursday, September 19th. BTIG Research restated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

BrightSpire Capital Stock Up 0.2 %

BrightSpire Capital stock traded up $0.01 during mid-day trading on Thursday, reaching $5.48. 604,308 shares of the company were exchanged, compared to its average volume of 770,341. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $715.89 million, a P/E ratio of -9.95 and a beta of 1.89. The business has a fifty day moving average of $5.68 and a 200 day moving average of $5.96. BrightSpire Capital has a 12-month low of $5.07 and a 12-month high of $8.01.

BrightSpire Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.68%. The ex-dividend date was Monday, September 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -116.36%.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of BrightSpire Capital by 2,407.1% in the 1st 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. ORG Partners LLC purchased a new position in BrightSpire Capital in the third quarter worth $53,000. EverSource Wealth Advisors LLC increased its position in shares of BrightSpire Capital by 5,602.8% during the second quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after purchasing an additional 10,085 shares in the last quarter. Founders Financial Securities LLC purchased a new stake in shares of BrightSpire Capital during the 2nd quarter valued at $62,000. Finally, RFG Advisory LLC acquired a new stake in shares of BrightSpire Capital in the 2nd quarter worth $68,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

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.