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

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

BrightSpire Capital Stock Up 0.3 %

Shares of BRSP stock traded up $0.02 during trading hours on Tuesday, reaching $5.76. 25,209 shares of the stock were exchanged, compared to its average volume of 710,670. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.48 and a quick ratio of 0.48. BrightSpire Capital has a 12-month low of $5.20 and a 12-month high of $8.01. The company’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.64.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. The company had revenue of $27.43 million during the quarter, compared to the consensus estimate of $28.64 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Analysts expect that BrightSpire Capital will post 0.79 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 28th. This represents a $0.80 annualized dividend and a dividend yield of 13.89%. BrightSpire Capital’s dividend payout ratio is currently -145.45%.

Institutional Trading of BrightSpire Capital

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of BrightSpire Capital by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock valued at $99,353,000 after purchasing an additional 873,407 shares in the last quarter. Private Management Group Inc. raised its stake in BrightSpire Capital by 0.4% in the first quarter. Private Management Group Inc. now owns 4,449,454 shares of the company’s stock worth $30,657,000 after buying an additional 17,111 shares in the last quarter. Federated Hermes Inc. lifted its holdings in BrightSpire Capital by 3.9% during the fourth quarter. Federated Hermes Inc. now owns 1,561,834 shares of the company’s stock worth $11,620,000 after buying an additional 59,342 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of BrightSpire Capital by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,490,044 shares of the company’s stock worth $11,086,000 after acquiring an additional 43,415 shares in the last quarter. Finally, Norges Bank bought a new position in shares of BrightSpire Capital in the 4th quarter worth $6,726,000. 56.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.