Overview Dividends

(BRSP) Brightspire Capital - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US10949T1097

First Mortgage, Mezzanine, Preferred Equity, Net Leased

EPS (Earnings per Share)

EPS CAGR: -17.33%
EPS Trend: -84.8%

Last SUE: -0.36σ
Qual. Beats: 0

Revenue

Revenue CAGR: -7.30%
Revenue Trend: -87.5%

Last SUE: -0.04σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	28.1%
Value at Risk 5%th	45.5%
Relative Tail Risk	-1.77%

Reward TTM
Sharpe Ratio	0.03
Alpha	-10.29

Character TTM
Hurst Exponent	0.418
Beta	0.747
Beta Downside	0.969

Drawdowns 3y
Max DD	35.31%
Mean DD	14.77%
Median DD	14.55%

Description: BRSP Brightspire Capital September 11, 2025

BrightSpire Capital, Inc. (NYSE: BRSP) is a publicly traded real estate investment trust that focuses on commercial real-estate (CRE) credit across the United States and Norway. Its core activities include originating, acquiring, financing, and managing a diversified pool of debt instruments-first-mortgage loans, senior loans, mezzanine loans, and preferred equity-as well as net-leased property investments.

The firm reports its operations through three segments: (1) Senior and Mezzanine Loans & Preferred Equity, (2) Net Leased and Other Real Estate, and (3) Corporate and Other. By qualifying as a REIT, BrightSpire avoids federal corporate income tax provided it distributes at least 90 % of its taxable income to shareholders each year.

Originally incorporated in 2017 as Colony Credit Real Estate, Inc., the company rebranded to BrightSpire Capital in June 2021 and remains headquartered in New York, NY.

According to its most recent 10-K (2023), BrightSpire held approximately **$1.2 billion** in total assets, with a loan portfolio weighted 68 % toward senior secured loans and 22 % in mezzanine and preferred equity positions. The REIT reported a **distribution yield of roughly 10.5 %** and a **dividend payout ratio of 94 %**, indicating a strong commitment to the REIT-required distribution threshold.

Key macro-economic drivers for BrightSpire’s CRE credit business include the prevailing interest-rate environment, which influences loan spreads and refinancing risk, and the health of the office and industrial sectors-both of which affect borrower credit quality. Additionally, net-leased properties benefit from long-term triple-net leases that provide cash-flow stability even amid tenant-level vacancy fluctuations.

For a deeper quantitative dive, the ValueRay platform offers a granular breakdown of BrightSpire’s loan-level performance and distribution sustainability.

BRSP Stock Overview

Market Cap in USD	707m
Sub-Industry	Real Estate Development
IPO / Inception	2018-02-01
Return 12m vs S&P 500	-12.6%
Analyst Rating	3.86 of 5

BRSP Dividends

Metric	Value
Dividend Yield	11.41%
Yield on Cost 5y	13.76%
Yield CAGR 5y	24.47%
Payout Consistency	88.0%
Payout Ratio	94.1%

BRSP Growth Ratios

Metric	Value
CAGR 3y	4.22%
CAGR/Max DD Calmar Ratio	0.12
CAGR/Mean DD Pain Ratio	0.29
Current Volume	587.8k
Average Volume	753.7k

Piotroski VR‑10 (Strict, 0-10) 1.5

Net Income (-36.5m TTM) > 0 and > 6% of Revenue (6% = 19.6m TTM)

FCFTA 0.02 (>2.0%) and ΔFCFTA -0.50pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -79.08% (prev 623.9%; Δ -703.0pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.02 (>3.0%) and CFO 82.5m > Net Income -36.5m (YES >=105%, WARN >=100%)

Net Debt (301.8m) to EBITDA (40.1m) ratio: 7.53 <= 3.0 (WARN <= 3.5)

Current Ratio 0.38 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (129.8m) change vs 12m ago -0.23% (target <= -2.0% for YES)

Gross Margin 50.66% (prev 63.14%; Δ -12.47pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 9.15% (prev 9.80%; Δ -0.65pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.02 (EBITDA TTM 40.1m / Interest Expense TTM 77.1m) >= 6 (WARN >= 3)

Altman Z'' -3.23

(A) -0.08 = (Total Current Assets 156.8m - Total Current Liabilities 415.2m) / Total Assets 3.30b

(B) -0.57 = Retained Earnings (Balance) -1.89b / Total Assets 3.30b

(D) -0.81 = Book Value of Equity -1.89b / Total Liabilities 2.34b

Total Rating: -3.23 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 35.37

1. Piotroski 1.50pt

2. FCF Yield 8.18%

3. FCF Margin 25.25%

4. Debt/Equity 0.43

5. Debt/Ebitda 7.53

6. ROIC - WACC (= -8.03)%

7. RoE -3.60%

8. Rev. Trend -87.47%

9. EPS Trend -84.81%

What is the price of BRSP shares?

As of November 26, 2025, the stock is trading at USD 5.61 with a total of 587,833 shares traded.
Over the past week, the price has changed by +4.08%, over one month by +5.25%, over three months by +1.51% and over the past year by -0.06%.

Is BRSP a buy, sell or hold?

Brightspire Capital has received a consensus analysts rating of 3.86. Therefore, it is recommended to buy BRSP.

Strong Buy: 3
Buy: 1
Hold: 2
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the BRSP price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	6.1	8.7%
Analysts Target Price	6.1	8.7%
ValueRay Target Price	6.4	13.2%

BRSP Fundamental Data Overview November 21, 2025

Market Cap USD = 707.2m (707.2m USD * 1.0 USD.USD)
P/E Forward = 7.6982
P/S = 2.1371
P/B = 0.7162
Beta = 1.454
Revenue TTM = 326.8m USD
EBIT TTM = 1.46m USD
EBITDA TTM = 40.1m USD
Long Term Debt = 2.17b USD (from longTermDebt, last quarter)
Short Term Debt = 415.2m USD (from shortTermDebt, last quarter)
Debt = 415.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 301.8m USD (from netDebt column, last quarter)
Enterprise Value = 1.01b USD (707.2m + Debt 415.2m - CCE 113.4m)
Interest Coverage Ratio = 0.02 (Ebit TTM 1.46m / Interest Expense TTM 77.1m)
FCF Yield = 8.18% (FCF TTM 82.5m / Enterprise Value 1.01b)
FCF Margin = 25.25% (FCF TTM 82.5m / Revenue TTM 326.8m)
Net Margin = -11.18% (Net Income TTM -36.5m / Revenue TTM 326.8m)
Gross Margin = 50.66% ((Revenue TTM 326.8m - Cost of Revenue TTM 161.2m) / Revenue TTM)
Gross Margin QoQ = 37.32% (prev 42.39%)
Tobins Q-Ratio = 0.31 (Enterprise Value 1.01b / Total Assets 3.30b)
Interest Expense / Debt = 7.55% (Interest Expense 31.4m / Debt 415.2m)
Taxrate = 9.00% (-129.0k / -1.43m)
NOPAT = 1.33m (EBIT 1.46m * (1 - 9.00%))
Current Ratio = 0.38 (Total Current Assets 156.8m / Total Current Liabilities 415.2m)
Debt / Equity = 0.43 (Debt 415.2m / totalStockholderEquity, last quarter 976.4m)
Debt / EBITDA = 7.53 (Net Debt 301.8m / EBITDA 40.1m)
Debt / FCF = 3.66 (Net Debt 301.8m / FCF TTM 82.5m)
Total Stockholder Equity = 1.01b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.11% (Net Income -36.5m / Total Assets 3.30b)
RoE = -3.60% (Net Income TTM -36.5m / Total Stockholder Equity 1.01b)
RoCE = 0.05% (EBIT 1.46m / Capital Employed (Equity 1.01b + L.T.Debt 2.17b))
RoIC = 0.04% (NOPAT 1.33m / Invested Capital 3.33b)
WACC = 8.07% (E(707.2m)/V(1.12b) * Re(8.77%) + D(415.2m)/V(1.12b) * Rd(7.55%) * (1-Tc(0.09)))
Discount Rate = 8.77% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.05%
[DCF Debug] Terminal Value 73.08% ; FCFE base≈95.5m ; Y1≈82.3m ; Y5≈64.7m
Fair Price DCF = 8.00 (DCF Value 1.04b / Shares Outstanding 129.7m; 5y FCF grow -16.93% → 3.0% )
EPS Correlation: -84.81 | EPS CAGR: -17.33% | SUE: -0.36 | # QB: 0
Revenue Correlation: -87.47 | Revenue CAGR: -7.30% | SUE: -0.04 | # QB: 0

Additional Sources for BRSP Stock

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