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

BrightSpire Capital (NYSE:BRSP) announced its 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. 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 during the quarter, compared to the consensus estimate of $28.64 million. During the same period in the previous year, the firm posted $0.26 EPS.

BrightSpire Capital Trading Down 2.4 %

BRSP stock traded down $0.15 during midday trading on Friday, hitting $6.02. The stock had a trading volume of 1,352,491 shares, compared to its average volume of 709,242. The company has a current ratio of 0.48, a quick ratio of 0.55 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average price of $6.59 and a two-hundred day moving average price of $6.76. BrightSpire Capital has a 1-year low of $5.20 and a 1-year high of $8.01. The firm has a market cap of $786.45 million, a P/E ratio of -10.95 and a beta of 1.89.

BrightSpire Capital Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio is presently -145.45%.

Wall Street Analyst Weigh In

BRSP has been the subject of a number of recent analyst reports. Barclays cut 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. Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target for the company. in a research note on Monday, March 4th. Finally, Raymond James cut shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research note on Friday.

Insider Transactions at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the stock in a transaction 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 directly owns 347,832 shares of the company’s stock, valued at approximately $2,351,344.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.