Brightspire Capital Inc Stock Price, News & Analysis

BrightSpire Capital, Inc. (NYSE: BRSP) announced that March 18, 2022, is the record date for its 2022 Annual Meeting of Stockholders, which will take place virtually on May 5, 2022, at 11:00 am Eastern Time. Details for the virtual meeting will be provided in the Company's 2022 proxy statement. BrightSpire Capital is a prominent publicly traded commercial real estate credit REIT, focusing on a diversified portfolio of CRE debt investments and properties primarily in the U.S.

DigitalBridge Group reported $256 million in total revenues for Q4 2021 while facing a GAAP net loss of $(21) million, or $(0.04) per share. The company highlighted a successful year, rotating $78 billion in assets under management within three years and doubling revenue in its digital businesses. DigitalBridge aims to leverage its investor-operator model for future growth. Dividends for preferred stock have been declared and will be paid in 2022. A conference call on financial results is scheduled for February 24, 2022.

BrightSpire Capital (NYSE: BRSP) announced its Q4 and full-year 2021 financial results, reporting a GAAP net income of $81.0 million ($0.63/share) and distributable earnings of $22.9 million ($0.17/share). Adjusted distributable earnings were $36.1 million ($0.27/share). The company experienced significant growth in its loan portfolio, increasing from $2.4 billion to $3.5 billion year-over-year. Andrew E. Witt has been appointed as President, focusing on business operations while continuing as COO. A quarterly cash dividend of $0.18 was declared for Q4 2021.

BrightSpire Capital (NYSE: BRSP) will release its fourth quarter and full year 2021 financial results on February 22, 2022, before the market opens. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. Investors can join the call by dialing (877) 407-0784 or via the company’s website. A replay will be available from 1:00 p.m. ET on February 22 until March 1, 2022. BrightSpire is a significant player in the commercial real estate credit sector, focusing on originating and managing a diversified portfolio of CRE debt investments.

BrightSpire Capital (NYSE: BRSP) announced on December 22, 2021, the payoff of its "5-Investment Preferred Financing" following a co-invest portfolio sale. This transaction is projected to increase the Company's GAAP book value by approximately $0.20 and undepreciated book value by about $0.35. Notably, these figures are around $0.33 lower than previously communicated. The detailed fourth quarter results will be available in the upcoming annual report on Form 10-K for the fiscal year ending December 31, 2021.

BrightSpire Capital (NYSE: BRSP) announced on December 22, 2021 the successful payoff of its "5-Investment Preferred Financing," enhancing its ownership of a triple-net warehouse distribution portfolio. This action, combined with a recent co-invest portfolio sale, is projected to increase the company's GAAP book value by $0.53 and undepreciated book value by $0.69. CEO Andy Witt emphasized the simplification of the portfolio as a key milestone as the company progresses into 2022.

Fortress Investment Group has completed transactions with DigitalBridge Group (NYSE: DBRG) and BrightSpire Capital (NYSE: BRSP) totaling approximately $730 million. These transactions include Fortress becoming the General Partner to DigitalBridge's DCVR series of funds, managing about $2.7 billion in assets. Additionally, Fortress acquired five development assets from BrightSpire for $223 million. The deals aim to streamline DigitalBridge's remaining assets and support BrightSpire’s portfolio rotation.

BrightSpire Capital (NYSE: BRSP) announced the completion of a sale involving 5 historical development and/or non-accrual assets to Fortress Investment Group for $223 million. The net proceeds received by the company were approximately $198 million. This transaction simplifies BrightSpire’s portfolio and resolves several legacy assets, enhancing its focus on senior mortgages. The sale aligns with the company’s goal to preserve book value, achieving proceeds in line with the assets' GAAP book value as of March 31, 2021.

BrightSpire Capital (NYSE: BRSP) appointed Catherine Long as an independent director to its Board, effective December 1, 2021. Long brings over 30 years of experience in the real estate investment trust (REIT) sector, previously serving as CFO at STORE Capital (NYSE: STOR). Her expertise in accounting and finance aims to enhance the board's strategic direction. Following this addition, the Board now consists of 7 members, 6 of whom are independent, highlighting a commitment to diversified governance.