BrightSpire Capital, Inc. (NYSE:BRSP – Get Free Report) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 3,650,516 shares, a drop of 33.9% from the June 30th total of 5,519,102 shares. Based on an average daily volume of 1,784,271 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.9% of the company’s stock are sold short.
BrightSpire Capital Stock Up 0.5%
Shares of BrightSpire Capital stock opened at $5.01 on Friday. The business has a 50-day moving average price of $5.46 and a 200 day moving average price of $5.68. BrightSpire Capital has a fifty-two week low of $4.85 and a fifty-two week high of $6.16. The firm has a market cap of $634.50 million, a P/E ratio of -21.80 and a beta of 1.28. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 2.75.
BrightSpire Capital (NYSE:BRSP – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. On average, sell-side analysts forecast that BrightSpire Capital will post 0.51 earnings per share for the current fiscal year.
BrightSpire Capital Announces Dividend
Analyst Ratings Changes
A number of brokerages have issued reports on BRSP. Weiss Ratings lowered BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, April 22nd. B. Riley Financial dropped their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday. Finally, JonesTrading reaffirmed a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.50.
Read Our Latest Research Report on BrightSpire Capital
Hedge Funds Weigh In On BrightSpire Capital
A number of hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. increased its stake in BrightSpire Capital by 59.2% during the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after purchasing an additional 1,798 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of BrightSpire Capital in the 1st quarter worth about $32,000. Axiom Investment Management LLC acquired a new position in shares of BrightSpire Capital in the 1st quarter valued at about $33,000. National Bank of Canada FI boosted its holdings in shares of BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after buying an additional 2,500 shares during the period. Finally, KBC Group NV bought a new stake in shares of BrightSpire Capital during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 56.57% of the company’s stock.
BrightSpire Capital Company Profile
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.
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