BrightSpire Capital (NYSE:BRSP) Announces Quarterly Earnings Results

BrightSpire Capital (NYSE:BRSP) issued its quarterly earnings data 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. BrightSpire Capital had a positive return on equity of 9.42% and a negative net margin of 7.34%. The company had revenue of $27.43 million for the quarter, compared to the consensus estimate of $28.64 million. During the same quarter last year, the business earned $0.26 earnings per share.

BrightSpire Capital Trading Down 1.8 %

Shares of BrightSpire Capital stock traded down $0.11 during mid-day trading on Thursday, hitting $6.12. The stock had a trading volume of 257,635 shares, compared to its average volume of 717,619. The firm has a 50-day moving average of $6.62 and a two-hundred day moving average of $6.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.62. BrightSpire Capital has a 12-month low of $5.20 and a 12-month high of $8.01. The firm has a market cap of $799.52 million, a P/E 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 given a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 13.07%. BrightSpire Capital’s dividend payout ratio (DPR) is presently -615.38%.

Insider Activity

In related news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were 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. Company insiders own 1.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays cut their target price on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America cut 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.

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.