BrightSpire Capital (NYSE:BRSP) Posts Earnings Results, Misses Estimates 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 the consensus estimate of $0.23 by ($0.02), Zacks reports. The firm had revenue of $27.43 million during the quarter, compared to analyst estimates of $28.64 million. BrightSpire Capital had a negative net margin of 7.34% and a positive return on equity of 9.42%. During the same period last year, the firm earned $0.26 EPS.

BrightSpire Capital Stock Down 1.6 %

Shares of BRSP traded down $0.10 during mid-day trading on Thursday, hitting $6.13. 276,483 shares of the company’s stock were exchanged, compared to its average volume of 717,707. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.55 and a quick ratio of 0.55. BrightSpire Capital has a 52 week low of $5.20 and a 52 week high of $8.01. The company has a market cap of $800.82 million, a PE ratio of -47.15 and a beta of 1.89. The company has a 50-day simple moving average of $6.62 and a 200 day simple moving average of $6.76.

BrightSpire Capital Announces Dividend

The company also recently announced 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 13.05%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s payout ratio is -615.38%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BRSP. Barclays reduced their target price on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America lowered shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target on the stock. in a research note on Monday, March 4th.

Insider Transactions at BrightSpire Capital

In related news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.91% of the stock is currently owned by insiders.

About BrightSpire Capital

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.