Short Interest in BrightSpire Capital, Inc. (NYSE:BRSP) Decreases By 27.1%

BrightSpire Capital, Inc. (NYSE:BRSP) saw a large decrease in short interest in January. As of January 15th, there was short interest totaling 3,997,788 shares, a decrease of 27.1% from the December 31st total of 5,482,993 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average trading volume of 607,473 shares, the days-to-cover ratio is currently 6.6 days. Based on an average trading volume of 607,473 shares, the days-to-cover ratio is currently 6.6 days. Currently, 3.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of BrightSpire Capital in a research report on Monday, December 29th. B. Riley started coverage on shares of BrightSpire Capital in a report on Monday, January 5th. They issued a “buy” rating and a $7.50 target price on the stock. Finally, Citigroup reissued a “market outperform” rating on shares of BrightSpire Capital in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.40.

BrightSpire Capital Stock Performance

BRSP traded down $0.02 on Tuesday, hitting $5.99. 331,489 shares of the stock traded hands, compared to its average volume of 640,340. The business has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $5.58. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $776.45 million, a PE ratio of -19.92 and a beta of 1.38. BrightSpire Capital has a 52 week low of $4.16 and a 52 week high of $6.32.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend was Wednesday, December 31st. BrightSpire Capital’s dividend payout ratio (DPR) is -213.33%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of BrightSpire Capital by 90.1% in the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock worth $610,000 after purchasing an additional 51,977 shares during the last quarter. AQR Capital Management LLC bought a new stake in BrightSpire Capital during the 1st quarter worth about $131,000. Goldman Sachs Group Inc. increased its position in BrightSpire Capital by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock valued at $11,184,000 after acquiring an additional 46,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BrightSpire Capital by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock worth $1,828,000 after acquiring an additional 27,713 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of BrightSpire Capital by 257.9% during the first quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock worth $1,594,000 after purchasing an additional 206,610 shares in the last quarter. 56.57% of the stock is owned by institutional investors.

About BrightSpire Capital

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.