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/BRSP
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Brightspire Capital Inc

Brightspire Capital Inc

BRSP
$5.49USD↓-0.72%-0.04 today

MARKET CAP

715.2M

P/E (TTM)

9.0x

FWD P/E

8.0x

DAY RANGE

$5 – $6

52W RANGE

$5
$6

AI Summary

Stalk
Sell NowMedium

BRSP remains in a Stage 3 distribution range, with price forming lower highs and trading below the 9/20/50 EMAs and 200 DMA. Repeated stalls at the short‐term EMA resistance zone highlight supply dominance and distribution risk. The medium‐term tradable bias is bearish, and the recent pullback rejection at the EMA cluster presents a timely sell opportunity in anticipation of a further breakdown.

  • ↑Dividend yield 2.88% covered by $15.6M Q1 distributable earnings.
  • ↑Q1 originations: 37 loans worth $1.1B; aiming $3.5B book by year-end.
  • ↓Debt/equity at ~2.4x heightens risk amid rising rates.
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

BrightSpire Capital, Inc. (NYSE: BRSP) operates as a commercial real estate finance company, focusing primarily on originating and managing loans secured by commercial real estate properties, especially multifamily sectors. Positioned within the commercial real estate lending space, BrightSpire aims to capitalize on market opportunities while effectively managing exposure to office properties. With a solid focus on multifamily loans, the company demonstrates resilience amidst economic fluctuations, marking itself as a resilient investment within the sector.

Bull says

  • ↑Dividend yield 2.88% covered by $15.6M Q1 distributable earnings.
  • ↑Q1 originations: 37 loans worth $1.1B; aiming $3.5B book by year-end.
  • ↑Liquidity of $206M supports continued loan deployments.
  • ↑Inflation-resilient multifamily focus offers stable income.
  • ↑Book-to-price ratio of 1.79 and positive earnings yield imply undervaluation.
  • ↑Rising loan inquiries signal strengthening multifamily demand.

Bear says

  • ↓Debt/equity at ~2.4x heightens risk amid rising rates.
  • ↓Negative revenue revisions and weak profitability factors persist.
  • ↓Hedge funds trimming stakes indicate weak institutional sentiment.
  • ↓Watchlist loans of $134M highlight portfolio quality concerns.
  • ↓Tight credit spreads and borrower demands pressure margins.
  • ↓Negative interest-rate sensitivity suggests vulnerability to rate hikes.

Investment themes with BRSP

Mortgage REITs↑ +0.54%

NLY · AGNC · STWD

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-01-2026neutral

Transcript signals

Bull points

  • Since reinitiating new loan production, we have closed 37 loans totaling $1.1 billion, with an additional nine loans in execution for $283 million, for a combined total of just over $1.4 billion.
  • We expect a further reduction in our office loan exposure to occur this next quarter.
  • As we look ahead, our priorities remain straightforward, and those are to redeploy capital from the watch list and REO resolutions into new loans, to grow the loan book to 3.5 billion by year end, and to execute a fifth CLO in the second half of the year.

Bear points

  • Quarter over quarter, total company gap net book value decreased to $7.05 per share from $7.30 in the fourth quarter.
  • Unappreciated book value decreased to $8.24 per share from $8.44. The change is mainly attributable to equity granted as part of our stock compensation program and consistent with past practice.
  • Our debt-to-assets ratio is 68%, and our debt-to-equity ratio is 2.4 times.
Read full transcript analysis ›