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

BrightSpire Capital (NYSE:BRSP) posted its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share 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 the consensus estimate of $83.56 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%.

BrightSpire Capital Trading Up 0.4%

BRSP stock traded up $0.01 during trading on Tuesday, reaching $3.71. 4,825,267 shares of the stock were exchanged, compared to its average volume of 1,268,702. 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 firm has a market capitalization of $468.76 million, a price-to-earnings ratio of -16.11, a P/E/G ratio of 2.75 and a beta of 1.31. The business has a 50 day moving average price of $4.23 and a 200-day moving average price of $5.29. BrightSpire Capital has a 1 year low of $3.56 and a 1 year high of $6.16.

BrightSpire Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 17.3%. BrightSpire Capital’s payout ratio is -278.26%.

Analysts Set New Price Targets

A number of analysts have commented on BRSP shares. Weiss Ratings downgraded shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. The Goldman Sachs Group upgraded BrightSpire Capital to a “buy” rating in a report on Wednesday, October 7th. B. Riley Financial dropped their price target on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, July 30th. Citigroup restated a “market outperform” rating on shares of BrightSpire Capital in a research report on Wednesday, October 7th. Finally, Barclays cut their price target on BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Monday, October 5th. Six research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.