BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Up 32.7% in December

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,070,000 shares, an increase of 32.7% from the December 15th total of 1,560,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 613,300 shares, the days-to-cover ratio is currently 3.4 days.

BrightSpire Capital Trading Up 1.5 %

Shares of BRSP opened at $5.78 on Friday. The firm has a market capitalization of $748.93 million, a P/E ratio of -5.66 and a beta of 1.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78. The stock’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $5.88. BrightSpire Capital has a twelve month low of $5.07 and a twelve month high of $7.71.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 11.08%. BrightSpire Capital’s payout ratio is -62.75%.

Institutional Investors Weigh In On BrightSpire Capital

Several large investors have recently made changes to their positions in BRSP. State of New Jersey Common Pension Fund D purchased a new stake in shares of BrightSpire Capital during the 2nd quarter valued at about $1,844,000. Barclays PLC boosted its stake in shares of BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock valued at $1,110,000 after purchasing an additional 152,131 shares during the period. Renaissance Technologies LLC grew its holdings in BrightSpire Capital by 50.1% during the 2nd quarter. Renaissance Technologies LLC now owns 294,200 shares of the company’s stock valued at $1,677,000 after purchasing an additional 98,236 shares in the last quarter. Private Management Group Inc. lifted its holdings in BrightSpire Capital by 1.9% in the 3rd quarter. Private Management Group Inc. now owns 4,574,973 shares of the company’s stock worth $25,620,000 after buying an additional 85,787 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in BrightSpire Capital by 222.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 108,023 shares of the company’s stock valued at $605,000 after buying an additional 74,512 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

Wall Street Analyst Weigh In

BRSP has been the topic of a number of recent research reports. B. Riley reduced their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Alliance Global Partners started coverage on shares of BrightSpire Capital in a research note on Friday. They issued a “buy” rating and a $7.25 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.45.

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.