Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Decreases By 33.9%

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 3,650,516 shares, a decrease of 33.9% from the June 30th total of 5,519,102 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,784,271 shares, the short-interest ratio is currently 2.0 days.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $4.97 on Friday. BrightSpire Capital has a 1-year low of $4.91 and a 1-year high of $6.16. The company has a market capitalization of $646.96 million, a P/E ratio of -21.59 and a beta of 1.28. The business has a 50 day moving average price of $5.47 and a 200 day moving average price of $5.69. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.51 and a quick ratio of 0.51.

BrightSpire Capital (NYSE:BRSP) last posted its earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. BrightSpire Capital had a positive return on equity of 6.85% and a negative net margin of 20.43%. Sell-side analysts expect that BrightSpire Capital will post 0.51 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Tuesday, June 30th. BrightSpire Capital’s payout ratio is -278.26%.

Wall Street Analysts Forecast Growth

BRSP has been the topic of a number of analyst reports. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. JonesTrading reiterated a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday. BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd. Finally, B. Riley Financial decreased their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.50.

Institutional Investors Weigh In On BrightSpire Capital

A number of large investors have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. raised its position in shares of BrightSpire Capital by 59.2% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock worth $27,000 after buying an additional 1,798 shares during the period. Cerity Partners LLC grew its position in BrightSpire Capital by 9.1% during the fourth quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock valued at $167,000 after acquiring an additional 2,480 shares during the period. National Bank of Canada FI increased its stake in BrightSpire Capital by 50.0% during the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after acquiring an additional 2,500 shares during the last quarter. M&T Bank Corp raised its holdings in shares of BrightSpire Capital by 22.5% in the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after purchasing an additional 2,501 shares during the period. Finally, Abel Hall LLC lifted its stake in shares of BrightSpire Capital by 7.5% in the 4th quarter. Abel Hall LLC now owns 44,536 shares of the company’s stock valued at $249,000 after purchasing an additional 3,123 shares in the last quarter. 56.57% of the stock is owned by institutional investors and hedge funds.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.