BrightSpire Capital
Primarily senior commercial-real-estate debt, with selective mezzanine, preferred-equity, and net-lease exposure.
Something off on this page? Send us feedback.
Profile
Operates by originating, selectively acquiring, financing, and managing commercial-real-estate credit investments, chiefly senior mortgages. The internally managed REIT also has selective mezzanine, preferred-equity, and net-leased-real-estate exposure from a platform assembled from predecessor portfolios.
Built from a combination of predecessor real-estate portfolios, the platform originates, selectively acquires, finances, and manages commercial-real-estate debt. Senior mortgages are its primary strategy, alongside selective mezzanine loans, preferred equity, and net-leased properties.
The lending platform is internally managed with dedicated management and operating functions following a transition from its external manager. Key offices are in New York and Los Angeles. It operates with REIT tax treatment.
Recent portfolio work has centered on resolving legacy REO and watchlist-loan positions and redeploying proceeds as new originations resumed. The operating subsidiary holds substantially all of its assets and liabilities.
Company facts
Categories
Key statistics
Year to date −17.0% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 29, 2026 | Industrial Alliance Securities | Target | $6.50 | $6 | ||
| Apr 22, 2026 | BTIG | Upgrade | Neutral | Buy | ||
| Feb 19, 2026 | Barclays | Reiterate | Underweight | $6 | ||
| Jul 8, 2025 | Barclays | Downgrade | Equal Weight | Underweight | ||
| Nov 13, 2024 | Jones Trading | Upgrade | Hold | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.15 | $0.13 | −12.6% | $64.3M | $83.5M | +29.9% | −4.58% |
| Apr 28, 2026Q1 FY26 | $0.15 | $0.14 | −6.7% | $63.1M | $68.4M | +8.4% | −4.45% |
| Feb 17, 2026Q4 FY25 | $0.16 | $0.15 | −6.3% | $62.4M | $67.3M | +7.8% | +0.52% |
| Oct 28, 2025Q3 FY25 | $0.16 | $0.16 | 0.0% | $66.6M | $81.4M | +22.2% | −0.57% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $77.6M | $84.3M | $81.4M | $83.2M | $82.2M | $83.5M | |
| Gross profit | $45.4M | $35.7M | $30.4M | $41.7M | $28.7M | $42.0M | |
| Operating income | $4.2M | $13.4M | $4.0M | $22.9M | $6.2M | $24.6M | |
| Net income | $5.3M | −$23.1M | $984.0K | −$14.4M | $4.8M | −$18.3M | |
| Diluted EPS | $0.04 | −$0.19 | $0.01 | −$0.12 | $0.03 | −$0.15 | |
| Gross margin | 58.5% | 42.4% | 37.3% | 50.1% | 34.9% | 50.3% | |
| Operating margin | 5.5% | 15.9% | 5.0% | 27.6% | 7.5% | 29.4% |
Fiscal years (4-quarter sums)FY21 $359.7M · FY22 $358.5M · FY23 $396.9M · FY24 $350.3M · FY25 $326.5M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $169.7M · Total debt $2.76B · Total assets $3.75B · Shareholders' equity $863.0M
Dividends
Last cut to $0.16 from $0.20 in Sep 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.16 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.16 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.16 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.16 | |
| Jun 30, 2025 | Jun 30 | Jul 14 | $0.16 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.16 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.16 | |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.16 | cut from $0.20 |
Ownership
Shares outstanding 126.52M · Float 105.26M · 83.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.72M | 8.48% | 13F | Aug 7, 2026 |
| CWRE SSF Securities Holding, LP | 6.53M | 5.00% | 13G | Apr 7, 2026 |
| Vanguard Capital Management LLC | 5.50M | 4.35% | 13F | Aug 13, 2026 |
| Private Management Group Inc | 4.88M | 3.85% | 13F | Jul 31, 2026 |
| Nomura Holdings Inc | 3.84M | 3.03% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Blackstone Mortgage Trust
Large senior-loan CRE lender backed by Blackstone
- Starwood Property Trust
Largest public commercial-mortgage REIT with diversified lending
- KKR Real Estate Finance Trust
Structured senior-loan CRE lender supported by KKR
- Franklin BSP Realty Trust
Public CRE debt REIT with senior floating-rate loan focus
- Ares Commercial Real Estate
Direct-originated senior-mortgage CRE lender backed by Ares
- Ladder Capital
Internally managed middle-market CRE finance platform
- TPG RE Finance Trust
First-mortgage CRE lender for institutional transitional owners
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BrightSpire Capital | $4.75 | 0.00% | $601.0M | — | 7.8 | 1.8 | −0.9% |
| Blackstone Mortgage Trust | $13.75 | +0.18% | $2.31B | 171.6 | 10.9 | 1.5 | +18.1% |
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| KKR Real Estate Finance Trust | $7.59 | +0.20% | $488.0M | — | — | 1.2 | −82.3% |
| Franklin BSP Realty Trust | $8.46 | −0.06% | $702.6M | 19.1 | 8.0 | 1.3 | −45.4% |
| Ares Commercial Real Estate | $4.65 | +0.11% | $258.0M | — | 50.3 | 2.6 | — |
| Ladder Capital | $9.82 | +0.10% | $1.25B | 23.4 | 9.0 | 3.3 | −40.9% |
| TPG RE Finance Trust | $7.73 | −0.06% | $593.4M | 14.3 | 7.2 | 2.2 | −58.7% |
| Median | 23.2 | 9.2 | 2.2 | −43.1% |