Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Increases By 25.9%

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,800,000 shares, a growth of 25.9% from the May 31st total of 1,430,000 shares. Based on an average daily trading volume, of 703,300 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BRSP. Bank of America lowered BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research report on Monday, March 4th. Raymond James downgraded shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Finally, Barclays cut their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd.

BrightSpire Capital Stock Up 0.7 %

Shares of NYSE:BRSP opened at $5.74 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. BrightSpire Capital has a 1 year low of $5.20 and a 1 year high of $8.01. The business’s 50 day moving average price is $6.05 and its 200-day moving average price is $6.64.

BrightSpire Capital (NYSE:BRSP) last announced its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same period last year, the firm earned $0.26 EPS. On average, equities analysts anticipate that BrightSpire Capital will post 0.79 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a yield of 13.94%. BrightSpire Capital’s payout ratio is -145.45%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of BrightSpire Capital in the fourth quarter valued at approximately $6,726,000. Vanguard Group Inc. boosted its position in shares of BrightSpire Capital by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after acquiring an additional 873,407 shares during the last quarter. WealthPlan Investment Management LLC purchased a new stake in shares of BrightSpire Capital in the third quarter valued at about $1,792,000. Alpine Global Management LLC increased its position in BrightSpire Capital by 449.0% during the third quarter. Alpine Global Management LLC now owns 315,000 shares of the company’s stock worth $1,972,000 after purchasing an additional 257,619 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in BrightSpire Capital during the fourth quarter worth about $764,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

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.