BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Update

BrightSpire Capital, Inc. (NYSE:BRSP) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 1,980,000 shares, an increase of 14.5% from the October 15th total of 1,730,000 shares. Based on an average trading volume of 785,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, BrightSpire Capital currently has an average rating of “Hold” and an average price target of $7.00.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Private Advisor Group LLC increased its position in shares of BrightSpire Capital by 232.7% during the second quarter. Private Advisor Group LLC now owns 486,886 shares of the company’s stock valued at $2,775,000 after purchasing an additional 340,563 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of BrightSpire Capital during the second quarter worth $1,844,000. Van ECK Associates Corp grew its holdings in shares of BrightSpire Capital by 34.7% during the second quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock worth $6,084,000 after purchasing an additional 275,175 shares during the last quarter. Barclays PLC lifted its stake in 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 buying an additional 152,131 shares during the period. Finally, Renaissance Technologies LLC grew its stake in BrightSpire Capital by 50.1% in the second 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. 56.57% of the stock is currently owned by institutional investors and hedge funds.

BrightSpire Capital Stock Performance

BRSP traded down $0.06 on Monday, hitting $6.16. The company had a trading volume of 43,969 shares, compared to its average volume of 769,470. The company’s fifty day moving average price is $5.74 and its 200 day moving average price is $5.87. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $8.01. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $798.83 million, a price-to-earnings ratio of -6.10 and a beta of 1.87.

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.