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

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

BrightSpire Capital Stock Down 1.3 %

NYSE:BRSP traded down $0.08 during midday trading on Thursday, hitting $6.15. 196,120 shares of the company were exchanged, compared to its average volume of 716,523. 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 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. The company has a market capitalization of $803.44 million, a PE ratio of -47.15 and a beta of 1.89.

BrightSpire Capital Dividend Announcement

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

Insider Buying and Selling

In related news, insider David A. Palame sold 50,000 shares of BrightSpire Capital stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the sale, the insider now directly owns 347,832 shares in the company, valued at approximately $2,351,344.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BRSP. Bank of America cut 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 report on Monday, March 4th. Barclays decreased 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 research report 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.