BrightSpire Capital (NYSE:BRSP) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

BrightSpire Capital (NYSE:BRSP) issued its earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01, FiscalAI reports. The firm had revenue of $109.77 million for the quarter, compared to analysts’ expectations of $83.56 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.

BrightSpire Capital Trading Up 0.4%

Shares of NYSE BRSP traded up $0.01 during midday trading on Tuesday, reaching $3.71. 4,763,025 shares of the stock were exchanged, compared to its average volume of 1,265,010. BrightSpire Capital has a 52-week low of $3.56 and a 52-week high of $6.16. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a 50 day moving average price of $4.23 and a 200-day moving average price of $5.29. The company has a market capitalization of $468.76 million, a P/E ratio of -16.11, a P/E/G ratio of 2.75 and a beta of 1.31.

BrightSpire Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a $0.16 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 17.3%. BrightSpire Capital’s dividend payout ratio is currently -278.26%.

Analyst Upgrades and Downgrades

BRSP has been the topic of a number of research reports. The Goldman Sachs Group raised shares of BrightSpire Capital to a “buy” rating in a research report on Wednesday, October 7th. Weiss Ratings downgraded shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 4th. JonesTrading reissued a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of BrightSpire Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Barclays lowered their price target on BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and an average target price of $6.00.

BrightSpire Capital Company Profile

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.