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

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a growth of 39.0% from the February 13th total of 798,500 shares. Based on an average daily volume of 698,900 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.9% of the shares of the company are sold short.

BrightSpire Capital Stock Down 0.6 %

Shares of NYSE BRSP opened at $5.98 on Tuesday. The stock has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.87. The firm has a market capitalization of $774.87 million, a price-to-earnings ratio of -5.69 and a beta of 1.98. BrightSpire Capital has a 52-week low of $5.07 and a 52-week high of $7.04. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70.

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

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.71%. BrightSpire Capital’s dividend payout ratio is presently -60.95%.

Institutional Trading of BrightSpire Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriflex Group Inc. purchased a new position in shares of BrightSpire Capital in the 4th quarter valued at approximately $37,000. Avior Wealth Management LLC lifted its stake in shares of BrightSpire Capital by 363.1% during the third quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock worth $52,000 after buying an additional 7,265 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of BrightSpire Capital during the fourth quarter valued at $57,000. Winthrop Advisory Group LLC purchased a new position in BrightSpire Capital in the 4th quarter worth $61,000. Finally, Dark Forest Capital Management LP acquired a new stake in BrightSpire Capital during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BRSP. B. Riley lowered their target price on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Alliance Global Partners initiated coverage on BrightSpire Capital in a research report on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Moderate Buy” and an average target price of $7.69.

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.