Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Drops By 13.6%

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

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market outperform” rating and set a $7.50 price objective on shares of BrightSpire Capital in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpire Capital has an average rating of “Hold” and a consensus target price of $7.00.

BrightSpire Capital Price Performance

NYSE:BRSP opened at $6.34 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average of $5.81 and a 200 day moving average of $5.89. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $8.01.

Institutional Investors Weigh In On BrightSpire Capital

Hedge funds have recently modified their holdings of the business. Private Advisor Group LLC increased its position in shares of BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock worth $2,775,000 after purchasing an additional 340,563 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of BrightSpire Capital by 34.7% in the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after purchasing an additional 275,175 shares during the period. Atria Investments Inc lifted its holdings in shares of BrightSpire Capital by 34.5% during the third quarter. Atria Investments Inc now owns 30,338 shares of the company’s stock worth $170,000 after purchasing an additional 7,779 shares during the period. Price T Rowe Associates Inc. MD boosted its position in BrightSpire Capital by 4.2% in the first 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 last quarter. Finally, Renaissance Technologies LLC increased its holdings in BrightSpire Capital by 50.1% in the 2nd quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock worth $1,677,000 after buying an additional 98,236 shares during the period. 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.