BrightSpire Capital, Inc. (NYSE:BRSP) Short Interest Down 8.7% in July

BrightSpire Capital, Inc. (NYSE:BRSP) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,640,000 shares, a decline of 8.7% from the July 15th total of 2,890,000 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily volume of 829,500 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

BRSP has been the topic of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of BrightSpire Capital in a report on Friday, July 19th. Raymond James lowered BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Finally, Barclays reduced their price objective on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and an average price target of $7.33.

Institutional Trading of BrightSpire Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of BrightSpire Capital by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,353,915 shares of the company’s stock worth $99,353,000 after acquiring an additional 873,407 shares during the period. Private Management Group Inc. increased its holdings in BrightSpire Capital by 0.9% during the 2nd quarter. Private Management Group Inc. now owns 4,489,186 shares of the company’s stock worth $25,588,000 after purchasing an additional 39,732 shares during the period. Federated Hermes Inc. increased its holdings in BrightSpire Capital by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,588,384 shares of the company’s stock worth $9,054,000 after purchasing an additional 6,297 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 valued at $11,086,000 after purchasing an additional 43,415 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of BrightSpire Capital by 34.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,067,438 shares of the company’s stock valued at $6,084,000 after buying an additional 275,175 shares during the period. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Trading Up 0.2 %

BRSP opened at $5.68 on Friday. BrightSpire Capital has a 52 week low of $5.07 and a 52 week high of $8.01. The company has a quick ratio of 0.48, a current ratio of 0.46 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $5.92 and a 200-day simple moving average of $6.29. The firm has a market cap of $742.01 million, a P/E ratio of -10.33 and a beta of 1.92.

BrightSpire Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 11.27%. The ex-dividend date is Monday, September 30th. BrightSpire Capital’s dividend payout ratio (DPR) is -116.36%.

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.