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

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,710,000 shares, a drop of 13.6% from the October 31st total of 1,980,000 shares. Approximately 1.4% of the company's shares are sold short. Based on an average daily volume of 696,200 shares, the short-interest ratio is presently 2.5 days.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC lifted its position in BrightSpire Capital by 363.1% in the 3rd quarter. Avior Wealth Management LLC now owns 9,266 shares of the company's stock valued at $52,000 after acquiring an additional 7,265 shares in the last quarter. ORG Partners LLC bought a new position in BrightSpire Capital in the 3rd quarter valued at approximately $53,000. EverSource Wealth Advisors LLC lifted its position in BrightSpire Capital by 5,602.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the company's stock valued at $59,000 after acquiring an additional 10,085 shares in the last quarter. McAdam LLC bought a new position in BrightSpire Capital in the 3rd quarter valued at approximately $58,000. Finally, Founders Financial Securities LLC bought a new position in BrightSpire Capital in the 2nd quarter valued at approximately $62,000. 56.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $7.50 target price on shares of BrightSpire Capital in a research report on Thursday, September 19th. One equities 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's stock. Based on data from MarketBeat, BrightSpire Capital currently has a consensus rating of "Hold" and an average price target of $7.00.

BrightSpire Capital Stock Down 0.3 %

NYSE:BRSP traded down $0.02 during mid-day trading on Friday, hitting $6.34. 315,904 shares of the company's stock were exchanged, compared to its average volume of 593,954. 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 company has a market cap of $822.17 million, a PE ratio of -6.22 and a beta of 1.87. The business has a fifty day moving average price of $5.81 and a 200 day moving average price of $5.89. BrightSpire Capital has a one year low of $5.07 and a one year high of $8.01.

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.