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

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,710,000 shares, a decrease of 13.6% from the October 31st total of 1,980,000 shares. Based on an average trading volume of 696,200 shares, the short-interest ratio is currently 2.5 days. Approximately 1.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in BrightSpire Capital by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,399 shares of the company’s stock valued at $727,000 after buying an additional 4,269 shares during the period. Cetera Advisors LLC lifted its stake in BrightSpire Capital by 23.7% in the first quarter. Cetera Advisors LLC now owns 62,951 shares of the company’s stock valued at $434,000 after acquiring an additional 12,050 shares during the last quarter. RFG Advisory LLC acquired a new stake in BrightSpire Capital in the 2nd quarter worth approximately $68,000. Bank of New York Mellon Corp lifted its stake in shares of BrightSpire Capital by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 455,366 shares of the company’s stock worth $2,596,000 after buying an additional 42,553 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BrightSpire Capital by 13.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,893 shares of the company’s stock valued at $222,000 after buying an additional 4,683 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

BrightSpire Capital Price Performance

Shares of NYSE BRSP traded down $0.04 during mid-day trading on Tuesday, hitting $6.34. 45,028 shares of the company traded hands, compared to its average volume of 753,072. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78. BrightSpire Capital has a 1 year low of $5.07 and a 1 year high of $8.01. The business has a 50 day moving average of $5.81 and a two-hundred day moving average of $5.88.

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.