BrightSpire Capital, Inc. (NYSE:BRSP) Sees Large Growth in Short Interest

BrightSpire Capital, Inc. (NYSE:BRSP) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 703,300 shares, the short-interest ratio is presently 2.6 days. Currently, 1.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in BrightSpire Capital by 2,407.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock valued at $41,000 after purchasing an additional 5,753 shares in the last quarter. Quest Partners LLC acquired a new position in BrightSpire Capital during the 4th quarter valued at approximately $45,000. Arlington Trust Co LLC purchased a new stake in shares of BrightSpire Capital in the 4th quarter valued at $67,000. Arkadios Wealth Advisors purchased a new stake in shares of BrightSpire Capital in the 4th quarter valued at $77,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of BrightSpire Capital in the 4th quarter valued at $88,000. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Trading Up 1.5 %

BrightSpire Capital stock traded up $0.09 during trading hours on Friday, hitting $5.70. The company had a trading volume of 1,756,860 shares, compared to its average volume of 594,284. The firm has a market cap of $744.65 million, a P/E ratio of -10.36 and a beta of 1.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.48 and a current ratio of 0.48. BrightSpire Capital has a 1 year low of $5.20 and a 1 year high of $8.01. The company has a 50-day moving average price of $6.06 and a two-hundred day moving average price of $6.66.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the previous year, the company posted $0.26 EPS. On average, sell-side analysts anticipate that BrightSpire Capital will post 0.79 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.80 annualized dividend and a dividend yield of 14.04%. BrightSpire Capital’s payout ratio is presently -145.45%.

Analysts Set New Price Targets

A number of research firms recently commented on BRSP. Barclays dropped their price target 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. Raymond James cut shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Finally, Bank of America cut shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target for the company. in a research note on Monday, March 4th.

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.