Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Increases By 107.8%

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,390,000 shares, a growth of 107.8% from the March 15th total of 1,150,000 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 840,600 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRSP shares. B. Riley dropped their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Alliance Global Partners assumed coverage on shares of BrightSpire Capital in a report on Friday, January 17th. They issued a “buy” rating and a $7.25 target price on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.69.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors and hedge funds have recently bought and sold shares of BRSP. Merit Financial Group LLC raised its position in shares of BrightSpire Capital by 5.3% during the 1st quarter. Merit Financial Group LLC now owns 112,222 shares of the company’s stock worth $624,000 after buying an additional 5,647 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of BrightSpire Capital during the fourth quarter valued at approximately $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BrightSpire Capital by 40.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 301,096 shares of the company’s stock worth $1,698,000 after purchasing an additional 87,242 shares in the last quarter. Two Sigma Advisers LP lifted its position in BrightSpire Capital by 5.0% in the fourth quarter. Two Sigma Advisers LP now owns 602,000 shares of the company’s stock worth $3,395,000 after purchasing an additional 28,800 shares during the period. Finally, Two Sigma Investments LP boosted its stake in BrightSpire Capital by 13.6% during the 4th quarter. Two Sigma Investments LP now owns 536,444 shares of the company’s stock valued at $3,026,000 after purchasing an additional 64,384 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Performance

Shares of BRSP stock traded down $0.02 during trading hours on Wednesday, reaching $4.43. The stock had a trading volume of 504,773 shares, compared to its average volume of 764,077. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.70 and a quick ratio of 0.73. The firm has a 50-day simple moving average of $5.65 and a 200-day simple moving average of $5.78. The firm has a market capitalization of $578.81 million, a PE ratio of -4.22 and a beta of 1.54. BrightSpire Capital has a twelve month low of $4.16 and a twelve month high of $6.71.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The business had revenue of $17.46 million for the quarter, compared to analyst estimates of $65.81 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, equities analysts forecast that BrightSpire Capital will post 0.67 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 14.45%. The ex-dividend date was Monday, March 31st. BrightSpire Capital’s dividend payout ratio is currently -60.95%.

About BrightSpire Capital

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.