BrightSpire Capital (NYSE:BRSP) Issues Earnings Results, Misses Estimates By $0.02 EPS

BrightSpire Capital (NYSE:BRSP - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports. The business had revenue of $27.43 million during the quarter, compared to the consensus estimate of $28.64 million. BrightSpire Capital had a negative net margin of 7.34% and a positive return on equity of 9.42%. During the same quarter in the prior year, the company earned $0.26 EPS.

BrightSpire Capital Price Performance

BrightSpire Capital stock traded down $0.06 during mid-day trading on Thursday, reaching $6.17. 725,030 shares of the company were exchanged, compared to its average volume of 723,200. The company has a fifty day simple moving average of $6.62 and a 200-day simple moving average of $6.76. BrightSpire Capital has a 12 month low of $5.20 and a 12 month high of $8.01. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $806.05 million, a PE ratio of -47.15 and a beta of 1.89.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 12.97%. BrightSpire Capital's dividend payout ratio (DPR) is presently -615.38%.

Insiders Place Their Bets

In other BrightSpire Capital news, insider David A. Palame sold 50,000 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the sale, the insider now owns 347,832 shares of the company's stock, valued at approximately $2,351,344.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.91% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BRSP. Bank of America lowered BrightSpire Capital from a "neutral" rating to an "underperform" rating and set a $6.50 target price on the stock. in a research note on Monday, March 4th. Barclays lowered their target price on BrightSpire Capital from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Thursday.

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.