BrightSpire Capital (NYSE:BRSP) Announces Quarterly Earnings Results

BrightSpire Capital (NYSE:BRSP) issued its earnings results on Wednesday. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports. BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. The business had revenue of $27.43 million for the quarter, compared to analysts’ expectations of $28.64 million. During the same quarter in the prior year, the business posted $0.26 earnings per share.

BrightSpire Capital Trading Down 2.4 %

BrightSpire Capital stock traded down $0.15 during mid-day trading on Friday, hitting $6.02. The company’s stock had a trading volume of 1,352,491 shares, compared to its average volume of 709,242. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.55 and a current ratio of 0.48. The company has a 50 day moving average of $6.59 and a 200-day moving average of $6.76. BrightSpire Capital has a one year low of $5.20 and a one year high of $8.01. The stock has a market cap of $786.45 million, a PE ratio of -10.95 and a beta of 1.89.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s payout ratio is currently -145.45%.

Analyst Ratings Changes

Several brokerages recently commented on BRSP. Bank of America lowered BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a report on Monday, March 4th. Raymond James cut shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Barclays reduced their target price 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.

Insider Transactions at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the sale, the insider now owns 347,832 shares in the company, valued at $2,351,344.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.91% of the company’s stock.

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.