BrightSpire Capital (NYSE:BRSP) Issues Quarterly Earnings Results

BrightSpire Capital (NYSE:BRSP) released its earnings results on Wednesday. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports. The business had revenue of $27.43 million during the quarter, compared to analyst estimates 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 period last year, the business posted $0.26 EPS.

BrightSpire Capital Stock Down 1.8 %

NYSE BRSP traded down $0.11 during trading on Thursday, reaching $6.12. 257,635 shares of the company’s stock were exchanged, compared to its average volume of 717,619. The firm has a market capitalization of $799.52 million, a PE ratio of -47.15 and a beta of 1.89. The company’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $6.76. BrightSpire Capital has a fifty-two week low of $5.20 and a fifty-two week high of $8.01. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

BrightSpire Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.07%. The ex-dividend date of this dividend was Wednesday, March 27th. BrightSpire Capital’s payout ratio is -615.38%.

Insiders Place Their Bets

In other news, insider David A. Palame sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were 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 in the company, valued at approximately $2,351,344.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BRSP shares. Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a research note on Monday, March 4th. Barclays lowered their price target on shares of BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday.

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.