BrightSpire Capital (BRSP) Stock Overview
Operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Norway. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 3/6 |
| Past Performance | 0/6 |
| Financial Health | 4/6 |
| Dividends | 2/6 |
BRSP Community Fair Values
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Analyst Price Targets
BrightSpire Capital, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$5.54 |
| 52 Week High | US$6.17 |
| 52 Week Low | US$4.84 |
| Beta | 1.36 |
| 1 Month Change | -2.12% |
| 3 Month Change | 1.28% |
| 1 Year Change | 8.20% |
| 3 Year Change | -16.19% |
| 5 Year Change | -46.32% |
| Change since IPO | -72.84% |
Recent News & Updates
Narrative Update • Jun 03
BRSP: Cautious Earnings Assumptions And New Buybacks Will Shape Future Risk Balance
Analysts have trimmed their average BrightSpire Capital price target by $0.50, reflecting updated views on discount rates, revenue trends, profit margins and future P/E assumptions following both a recent target cut and an upgrade. Analyst Commentary Recent research has highlighted a mixed setup for BrightSpire Capital, with the trimmed average price target pointing to a more cautious stance on how the stock is valued against its earnings profile and business risks.Seeking Alpha • May 04
BrightSpire Capital: Dividend Coverage Dips, All-In Yield Compresses (Downgrade)
Summary BrightSpire Capital trades at a deep discount to book value, but its double-digit dividend yield is not fully covered by earnings. BRSP's dividend coverage has declined to 88%, raising the likelihood of a future dividend cut to prevent further book value erosion. The portfolio is now heavily weighted to multifamily loans, with office exposure sharply reduced and new originations focused almost exclusively on multifamily. I rate BRSP as a "Hold" due to deteriorating dividend coverage and compressing loan yields, despite ongoing portfolio de-risking. Read the full article on Seeking AlphaRecent updates
Narrative Update • Jun 03
BRSP: Cautious Earnings Assumptions And New Buybacks Will Shape Future Risk Balance
Analysts have trimmed their average BrightSpire Capital price target by $0.50, reflecting updated views on discount rates, revenue trends, profit margins and future P/E assumptions following both a recent target cut and an upgrade. Analyst Commentary Recent research has highlighted a mixed setup for BrightSpire Capital, with the trimmed average price target pointing to a more cautious stance on how the stock is valued against its earnings profile and business risks.Seeking Alpha • May 04
BrightSpire Capital: Dividend Coverage Dips, All-In Yield Compresses (Downgrade)
Summary BrightSpire Capital trades at a deep discount to book value, but its double-digit dividend yield is not fully covered by earnings. BRSP's dividend coverage has declined to 88%, raising the likelihood of a future dividend cut to prevent further book value erosion. The portfolio is now heavily weighted to multifamily loans, with office exposure sharply reduced and new originations focused almost exclusively on multifamily. I rate BRSP as a "Hold" due to deteriorating dividend coverage and compressing loan yields, despite ongoing portfolio de-risking. Read the full article on Seeking AlphaNarrative Update • Feb 21
BRSP: Higher Price View And Buybacks Will Shape Future Risk Balance
Analysts have raised their price target on BrightSpire Capital to $6 from $5, reflecting updated assumptions about fair value, discount rate, revenue trends, profit margins, and projected P/E multiples. Analyst Commentary Even with the higher fair value estimate at US$6, bearish analysts remain cautious and frame the move as a fine tuning of assumptions rather than a shift to a more optimistic stance on the stock.
New Narrative • May 29
CRE Financing Trends Will Build A Resilient Loan Portfolio
Portfolio expansion, optimization, and focus on high-quality assets aim to drive revenue growth, boost profitability, and reduce earnings volatility.Analysis Article • May 08
We Think BrightSpire Capital, Inc.'s (NYSE:BRSP) CEO Compensation Package Needs To Be Put Under A Microscope
Key Insights BrightSpire Capital will host its Annual General Meeting on 14th of May Total pay for CEO Mike Mazzei...Seeking Alpha • Mar 01
Buy The Dip With 10% Yield: BrightSpire Capital
Summary After multiple quarters of playing entirely defense, BRSP is switching gears to ramping up its portfolio. You can unlock high yields by investing in downtrodden sectors. I collect income from sources all over the economy. Read the full article on Seeking AlphaSeeking Alpha • Nov 23
Collect Income, Watch The Future Brighten: BrightSpire
Summary The best time to buy income is when others put it on sale. I buy income at steep discounts and get both high yields and capital gains. Total return? Yes, mine is wonderful. Read the full article on Seeking AlphaSeeking Alpha • Oct 25
BrightSpire Capital: Loan Loss Risk Remains Elevated But Positive Signs Are Emerging
Summary BrightSpire Capital faces challenges due to high office sector exposure and elevated loan loss provisioning, impacting earnings and net asset value. Approximately 20% of BRSP’s portfolio is on the watchlist, with ongoing risks necessitating careful observation despite most loans being current in interest payments. BRSP trades at a significant discount to net asset value, with no near-term catalysts for revaluation, warranting a "Hold" rating for cautious investors. Read the full article on Seeking AlphaSeeking Alpha • Aug 14
12% Yield And Conservative Management. Yes!: BrightSpire
Summary When a dividend cut occurs, it's time to analyze the data again and evaluate the outcomes. My portfolio has seen 20 hikes and 4 cuts, but every cut deserves focused attention. We provide an in-depth review of BrightSpire Capital, Inc. and their recent earnings to look for systemic issues. Read the full article on Seeking AlphaSeeking Alpha • Aug 05
BrightSpire Capital: Looking For Income In Alderaan Places
Summary Markets play out themes on long timeframes, destroying income-chasing mentality slowly. BrightSpire delivered another blow to the perpetually poor performance with another dividend cut. We dig in and tell you why it is not too late to hit the exit. Read the full article on Seeking AlphaSeeking Alpha • Jun 30
Bargain Alert: 14% Yield And Big Discount: BrightSpire Capital
Summary I love a great discounted opportunity. The mREIT sector is heavily beaten down, but you should focus on the best-run companies. Buy a wonderful company at a wonderful price. Read the full article on Seeking AlphaAnalysis Article • May 10
It's Unlikely That BrightSpire Capital, Inc.'s (NYSE:BRSP) CEO Will See A Huge Pay Rise This Year
Key Insights BrightSpire Capital's Annual General Meeting to take place on 16th of May Total pay for CEO Mike Mazzei...Seeking Alpha • Mar 10
BrightSpire: My Income Portfolio Doesn't Quit
Summary You need income that has an unkillable spirit. BrightSpire Capital, Inc. has carefully and effectively managed the commercial real estate market. More income. Less stress. The benefits of income investing. Read the full article on Seeking AlphaSeeking Alpha • Jan 03
Bargain Alert! I Earn 10% Yield From BrightSpire Capital
Summary Shh, we can't tell you that we're telling you this truth. Understanding the real-world benefits of this principle can revolutionize your retirement and life. Don't read this article unless you want to have your eyes opened. Read the full article on Seeking AlphaSeeking Alpha • Nov 27
BrightSpire Capital: Will Benefit From Higher Average Interest Rate
Summary BrightSpire Capital offers a dividend yield of around 12% and has solid financials, despite its stock trading downward due to concerns about office market exposure. The company's strategy of holding floating-rate loans within multifamily, office, and hotel properties is advantageous in a high-interest rate environment. As interest rates have risen over time, so has BRSP's net interest income. Management has maneuvered well throughout a rough economic cycle and has been building a strong cash position. Read the full article on Seeking AlphaSeeking Alpha • Sep 18
BrightSpire Capital: Still Below Book Value With A 12% Dividend
Summary BrightSpire Capital is a mortgage REIT with a loan portfolio of $3.4 billion. The company's portfolio consists of floating rate loans primarily for multifamily, office, and hotel projects. The stock is trading at a steep discount to book value due to concerns about the high proportion of office loans and potential defaults. However, there is still a lot of potential upside to the stock. I present my bullish analysis on the stock. Read the full article on Seeking AlphaSeeking Alpha • Aug 28
BrightSpire Capital: A Fairly Valued 12%+ Yielder
Summary BrightSpire Capital, Inc. trades at a discount due to concerns over its exposure to the office market. Signs of a potential turnaround in BrightSpire's portfolio risk profile could lead to a reevaluation of the stock. The company's dividend yield appears sustainable, supported by adjusted distributable earnings. Read the full article on Seeking AlphaSeeking Alpha • Jun 22
BrightSpire Capital: Trades At A Major Discount To Book Value
Summary BrightSpire Capital is a mortgage REIT with a loan portfolio of $3.4 billion, half of which is invested in residential multifamily loans. The stock trades at a 45% discount to book value, providing a margin of safety unless more than 20% of loans default. Investors can potentially benefit from a 100% upside and a 12% dividend yield, although the dividend may not be the safest if defaults increase. Read the full article on Seeking AlphaSeeking Alpha • Jun 01
BrightSpire Capital: Office Loans Have The Market Exiting, I'm Entering (Slowly)
Summary BrightSpire Capital is benefiting from higher interest rates, but economic stress may cause some loans to default, particularly in the office property sector. I believe the market has priced in a complete write-off of the office part of the portfolio, providing a large margin of safety for investors. BRSP is rated a "BUY" at $5.92 per share, but investors should be cautious about the sustainability of the current dividend. Read the full article on Seeking AlphaSeeking Alpha • Feb 20
BrightSpire Capital Q4 2022 Earnings Preview
BrightSpire Capital (NYSE:BRSP) is scheduled to announce Q4 earnings results on Tuesday, February 21st, before market open. The consensus EPS Estimate is $0.24 (-11.1% Y/Y) and the consensus Revenue Estimate is $54.85M (+53.9% Y/Y). Over the last 2 years, BRSP has beaten EPS estimates 75% of the time and has beaten revenue estimates 50% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 1 downward. Revenue estimates have seen 0 upward revisions and 1 downward.Seeking Alpha • Dec 09
BrightSpire: A Decent Quarter Improves The Valuation Picture, Technicals Remain Concerning
Summary The mortgage real estate market is tough at both the residential and commercial ends right now. One small REIT features a big yield and low valuation, suggesting much of the pessimism in real estate could be priced in. With a low P/E and weak chart, there are mixed signals. Mortgage REITs are attempting an absolute and relative comeback, but the iShares Mortgage Real Estate Capped ETF (REM) has continued to sharply underperform the broad market this year. With some signs of life due to lower interest rates, spotting bottoms in some of the industry's stocks is worth a look, but downtrends are pervasive in the space. Mortgage REITs Bouncing in Q4 StockCharts.com According to Bank of America Global Research, BrightSpire Capital (BRSP) is an internally managed commercial real estate mortgage REIT that focuses on originating, acquiring, financing, and managing a portfolio of predominantly US-based CRE debt investments and net leased properties. CRE debt investments are primarily first mortgage loans. BRSP may selectively originate mezzanine loans and preferred equity investments, often in conjunction with the origination of the corresponding first mortgages on the same properties. The New York-based $885 million market cap Mortgage Real Estate Investment Trusts (REITs) industry company within the Financials sector trades at a low 7.3 trailing 12-month GAAP price-to-earnings ratio and pays a high 11.6% dividend yield, according to The Wall Street Journal. Back in November, the firm barely beat bottom line estimates but also increased its expected credit loss reserves in anticipation of a potentially poor credit environment. It also declared a $0.20 per share quarterly dividend. The company offers investors exposure to the commercial real estate market, an industry that often has high expected risk-adjusted returns, but there's heightened uncertainty in today's market. While BRSP has improved its portfolio and transitioned to a pure-play commercial mortgage REIT, investors should expect volatility given tough credit conditions and a deteriorating real estate market. On valuation, analysts at BofA see earnings rising by 8% this year but then climbing by just 4.3% in 2023 before solid per-share profit growth in 2024. The Bloomberg consensus forecast is about on par with what BofA sees. Dividends, now at $0.80 annualized, should continue to bump up in the coming quarters. While the operating P/E is attractive, the forward GAAP earnings multiple is high. BofA recently increased its profitability outlook for BrightSpire but reduced its price target to $8. Overall, I think the valuation has come down sufficiently to up my recommendation from sell to hold. BRSP: Earnings, Valuation, Dividend Yield Forecasts BofA Global Research Looking ahead, corporate event data from Wall Street Horizon show an unconfirmed Q4 2022 earnings date of Tuesday, February 21. Also notable is the company's buyback plan ending on April 30 - be on the lookout for a new repurchase program announced at the next quarterly report. Corporate Event Calendar Wall Street HorizonShareholder Returns
| BRSP | US Mortgage REITs | US Market | |
|---|---|---|---|
| 7D | -1.1% | 0.2% | 1.7% |
| 1Y | 8.2% | -0.7% | 25.1% |
Return vs Industry: BRSP exceeded the US Mortgage REITs industry which returned -1.3% over the past year.
Return vs Market: BRSP underperformed the US Market which returned 23.3% over the past year.
Price Volatility
| BRSP volatility | |
|---|---|
| BRSP Average Weekly Movement | 3.3% |
| Mortgage REITs Industry Average Movement | 3.9% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.7% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: BRSP has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: BRSP's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2017 | 47 | Mike Mazzei | www.brightspire.com |
BrightSpire Capital, Inc. operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Norway. It operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. The company focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of senior mortgage loans, mezzanine loans, preferred equity investments, net leased real estate and other real estate properties, and CRE debt securities.
BrightSpire Capital, Inc. Fundamentals Summary
| BRSP fundamental statistics | |
|---|---|
| Market cap | US$710.02m |
| Earnings (TTM) | -US$33.60m |
| Revenue (TTM) | US$335.97m |
2.1x
P/S Ratio-21.5x
P/E RatioIs BRSP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| BRSP income statement (TTM) | |
|---|---|
| Revenue | US$335.97m |
| Cost of Revenue | US$102.01m |
| Gross Profit | US$233.96m |
| Other Expenses | US$267.56m |
| Earnings | -US$33.60m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.26 |
| Gross Margin | 69.64% |
| Net Profit Margin | -10.00% |
| Debt/Equity Ratio | 286.0% |
How did BRSP perform over the long term?
See historical performance and comparisonDividends
11.6%
Current Dividend Yield115%
Payout RatioDoes BRSP pay a reliable dividends?
See BRSP dividend history and benchmarks| BrightSpire Capital dividend dates | |
|---|---|
| Ex Dividend Date | Jun 30 2026 |
| Dividend Pay Date | Jul 15 2026 |
| Days until Ex dividend | 10 days |
| Days until Dividend pay date | 25 days |
Does BRSP pay a reliable dividends?
See BRSP dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/18 21:03 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
BrightSpire Capital, Inc. is covered by 8 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gaurav Mehta | Alliance Global Partners |
| Terry Ma | Barclays |
| Derek Hewett | BofA Global Research |