BrightSpire Capital (NYSE:BRSP) Issues Earnings Results

BrightSpire Capital (NYSE:BRSP) issued its quarterly earnings data on Tuesday. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01, FiscalAI reports. The company had revenue of $109.77 million during the quarter, compared to analysts’ expectations of $83.56 million.

BrightSpire Capital Stock Up 0.4%

BRSP stock opened at $3.71 on Wednesday. The firm has a market cap of $468.77 million, a PE ratio of -16.11 and a beta of 1.31. The business has a 50 day moving average of $4.20 and a 200-day moving average of $5.28. BrightSpire Capital has a 12-month low of $3.56 and a 12-month high of $6.16.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were issued a $0.16 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings downgraded BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Citizens Jmp cut their price objective on shares of BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 7th. Wall Street Zen downgraded shares of BrightSpire Capital from a “hold” rating to a “sell” rating in a report on Saturday. Finally, B. Riley Financial reduced 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 note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to data from MarketBeat, BrightSpire Capital presently has an average rating of “Hold” and a consensus 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.