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

BrightSpire Capital (NYSE:BRSP) posted its earnings results on Wednesday. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports. BrightSpire Capital had a positive return on equity of 9.42% and a negative net margin of 7.34%. The firm had revenue of $27.43 million during the quarter, compared to the consensus estimate of $28.64 million. During the same period in the previous year, the company posted $0.26 EPS.

BrightSpire Capital Trading Down 1.3 %

Shares of NYSE BRSP traded down $0.08 during mid-day trading on Thursday, hitting $6.15. The company’s stock had a trading volume of 196,120 shares, compared to its average volume of 716,523. The stock has a market cap of $803.44 million, a price-to-earnings ratio of -47.15 and a beta of 1.89. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. BrightSpire Capital has a one year low of $5.20 and a one year high of $8.01. The company’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $6.76.

BrightSpire Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 13.01%. The ex-dividend date of this dividend was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio is currently -615.38%.

Insider Activity

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays lowered their target price on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America lowered shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a report on Monday, March 4th.

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.