(BRSP) Brightspire Capital - Overview
Stock: Senior Loans, Mezzanine Loans, Preferred Equity, Net Leased Properties
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 11.86% |
| Yield on Cost 5y | 12.52% |
| Yield CAGR 5y | 2.49% |
| Payout Consistency | 87.6% |
| Payout Ratio | 128.0% |
| Risk 5d forecast | |
|---|---|
| Volatility | 27.3% |
| Relative Tail Risk | -1.92% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.51 |
| Alpha | 3.41 |
| Character TTM | |
|---|---|
| Beta | 0.713 |
| Beta Downside | 0.924 |
| Drawdowns 3y | |
|---|---|
| Max DD | 35.31% |
| CAGR/Max DD | 0.14 |
Description: BRSP Brightspire Capital January 26, 2026
BrightSpire Capital, Inc. (NYSE: BRSP) is a publicly traded real-estate investment trust (REIT) that originates, acquires, finances, and manages a diversified portfolio of commercial-real-estate (CRE) credit assets, including first-mortgage, senior, mezzanine loans, preferred equity, and net-leased properties across the United States and Norway.
The firm operates through three reporting segments-Senior & Mezzanine Loans & Preferred Equity; Net-Leased & Other Real Estate; and Corporate & Other-allowing it to capture income from both debt-yielding instruments and equity-style net-lease investments while maintaining REIT tax efficiency by distributing ≥ 90 % of taxable income.
As of the most recent quarterly filing (Q4 2025), BrightSpire reported total assets of approximately $1.22 billion, with a loan portfolio of $905 million and a weighted-average loan-to-value ratio of 71 %. The REIT’s dividend yield stood at 6.5 % (annualized distribution of $0.85 per share), and its net asset value (NAV) per share was $10.12, indicating a modest discount to market price.
Key macro drivers affecting BRSP include the Federal Reserve’s policy stance-higher short-term rates have lifted CRE loan yields but also pressure borrower refinancing risk-and sector-specific trends such as office-space vacancy rates, which remain above 15 % in major metros, and a gradual shift toward flexible-use and logistics properties that are supporting loan demand in the industrial sub-segment.
For a deeper quantitative dive, the ValueRay platform offers a granular breakdown of BRSP’s credit metrics.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -36.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.50 > 1.0 |
| NWC/Revenue: -79.08% < 20% (prev 765.7%; Δ -844.8% < -1%) |
| CFO/TA 0.02 > 3% & CFO 82.5m > Net Income -36.5m |
| Net Debt (301.8m) to EBITDA (40.1m): 7.53 < 3 |
| Current Ratio: 0.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (129.8m) vs 12m ago -0.23% < -2% |
| Gross Margin: 50.66% > 18% (prev 0.51%; Δ 5016 % > 0.5%) |
| Asset Turnover: 9.15% > 50% (prev 9.63%; Δ -0.48% > 0%) |
| Interest Coverage Ratio: 0.02 > 6 (EBITDA TTM 40.1m / Interest Expense TTM 77.1m) |
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 -1.89b / Total Assets 3.30b) |
| C: 0.00 (EBIT TTM 1.46m / Avg Total Assets 3.57b) |
| D: -0.81 (Book Value of Equity -1.89b / Total Liabilities 2.34b) |
| Altman-Z'' Score: -3.23 = D |
Beneish M -1.96
| DSRI: 0.02 (Receivables 43.4m/2.53b, Revenue 326.8m/369.6m) |
| GMI: 1.00 (GM 50.66% / 50.78%) |
| AQI: 4.36 (AQ_t 0.95 / AQ_t-1 0.22) |
| SGI: 0.88 (Revenue 326.8m / 369.6m) |
| TATA: -0.04 (NI -36.5m - CFO 82.5m) / TA 3.30b) |
| Beneish M-Score: -1.96 (Cap -4..+1) = B |
What is the price of BRSP shares?
Over the past week, the price has changed by -1.34%, over one month by +1.03%, over three months by +13.65% and over the past year by +15.14%.
Is BRSP a buy, sell or hold?
- StrongBuy: 3
- Buy: 1
- Hold: 2
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the BRSP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 6.4 | 7.8% |
| Analysts Target Price | 6.4 | 7.8% |
| ValueRay Target Price | 7 | 19.3% |
BRSP Fundamental Data Overview February 02, 2026
P/S = 2.3493
P/B = 0.8158
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 = 1.08b USD (777.4m + Debt 415.2m - CCE 113.4m)
Interest Coverage Ratio = 0.02 (Ebit TTM 1.46m / Interest Expense TTM 77.1m)
EV/FCF = 13.08x (Enterprise Value 1.08b / FCF TTM 82.5m)
FCF Yield = 7.65% (FCF TTM 82.5m / Enterprise Value 1.08b)
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 = 0.33 (Enterprise Value 1.08b / Total Assets 3.30b)
Interest Expense / Debt = 7.55% (Interest Expense 31.4m / Debt 415.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = 1.15m (EBIT 1.46m * (1 - 21.00%))
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 = -1.02% (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 = 0.03% (NOPAT 1.15m / Invested Capital 3.33b)
WACC = 7.64% (E(777.4m)/V(1.19b) * Re(8.54%) + D(415.2m)/V(1.19b) * Rd(7.55%) * (1-Tc(0.21)))
Discount Rate = 8.54% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.05%
[DCF Debug] Terminal Value 77.13% ; FCFF base≈95.5m ; Y1≈82.3m ; Y5≈64.5m
Fair Price DCF = 7.35 (EV 1.26b - Net Debt 301.8m = Equity 954.0m / Shares 129.7m; r=7.64% [WACC]; 5y FCF grow -16.93% → 2.90% )
EPS Correlation: -73.07 | EPS CAGR: -46.95% | SUE: -4.0 | # QB: 0
Revenue Correlation: -52.06 | Revenue CAGR: -10.13% | SUE: -0.04 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.17 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=7
EPS next Year (2026-12-31): EPS=0.70 | Chg30d=-0.000 | Revisions Net=-1 | Growth EPS=+9.8% | Growth Revenue=-0.3%