BrightSpire Capital (NYSE:BRSP) Releases Quarterly Earnings Results

Key Points

• BrightSpire Capital exceeded quarterly expectations, reporting EPS of $0.14 versus the $0.13 consensus estimate and revenue of $109.77 million compared with forecasts of $83.56 million.
• The company declared a quarterly dividend of $0.16, or $0.64 annualized, representing a 17.3% yield; however, its payout ratio was negative due to reported losses.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $6.00, while the stock traded near $3.71 after several firms reduced their targets.

BrightSpire Capital (NYSE:BRSP - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.01, FiscalAI reports. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. The company had revenue of $109.77 million for the quarter, compared to analyst estimates of $83.56 million.

BrightSpire Capital Stock Up 0.4%

NYSE:BRSP traded up $0.01 on Tuesday, hitting $3.71. The stock had a trading volume of 4,763,025 shares, compared to its average volume of 1,265,010. BrightSpire Capital has a 1 year low of $3.56 and a 1 year high of $6.16. The firm's fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $5.29. The stock has a market cap of $468.76 million, a P/E ratio of -16.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 17.3%. The ex-dividend date of this dividend was Wednesday, September 30th. BrightSpire Capital's dividend payout ratio is presently -278.26%.

Wall Street Analysts Forecast Growth

BRSP has been the subject of several research reports. Citizens Jmp decreased their price target on shares of BrightSpire Capital from $7.00 to $6.00 and set a "market outperform" rating for the company in a research note on Wednesday, October 7th. B. Riley Financial decreased their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Thursday, July 30th. Weiss Ratings cut shares of BrightSpire Capital from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 4th. The Goldman Sachs Group upgraded shares of BrightSpire Capital to a "buy" rating in a research note on Wednesday, October 7th. Finally, Barclays decreased their price objective on BrightSpire Capital from $6.00 to $4.00 and set an "underweight" rating for the company in a report on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.00.

About BrightSpire Capital

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing a portfolio of commercial real estate debt and related investments.

BrightSpire's investments primarily include senior mortgage loans, mezzanine loans, preferred equity and other real estate-related credit investments. Its portfolio may be secured by properties across several commercial real estate sectors, including office, multifamily, industrial, hospitality, retail and other specialized property types.

The company serves commercial real estate owners, operators and developers primarily in the United States.

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