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

BrightSpire Capital, Inc. (NYSE:BRSP) was the target of a large increase in short interest during the month of 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 presently 2.5 days. Currently, 1.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of BrightSpire Capital by 2,407.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock worth $41,000 after purchasing an additional 5,753 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of BrightSpire Capital by 363.1% in the 3rd quarter. Avior Wealth Management LLC now owns 9,266 shares of the company’s stock worth $52,000 after purchasing an additional 7,265 shares during the period. ORG Partners LLC purchased a new position in shares of BrightSpire Capital in the 3rd quarter worth approximately $53,000. EverSource Wealth Advisors LLC boosted its holdings in shares of BrightSpire Capital by 5,602.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company’s stock worth $59,000 after purchasing an additional 10,085 shares during the period. Finally, McAdam LLC purchased a new position in shares of BrightSpire Capital in the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Price Performance

Shares of BrightSpire Capital stock opened at $6.22 on Monday. The stock has a market cap of $806.61 million, a price-to-earnings ratio of -6.10 and a beta of 1.87. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average price of $5.74 and a 200-day moving average price of $5.87. BrightSpire Capital has a one year low of $5.07 and a one year high of $8.01.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $7.50 price objective on shares of BrightSpire Capital in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.00.

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.