BrightSpire Capital, Inc. BRSP
BrightSpire Capital, Inc. (NYSE: BRSP) is internally managed and one of the largest publicly traded commercial real estate (CRE) credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments predominantly in the United States. CRE debt investments primarily consist of first mortgage loans, which we expect to be the primary investment strategy. BrightSpire Capital is organized as a Maryland corporation and taxed as a REIT for U.S. federal income tax purposes.
Snapshot
Reported FFO / Adjusted Distributable Earnings / leverage are from the Q1 2026 earnings release (filed 2026-04-28) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $331.60M | $-31.15M | $37.34M | $111.97M | $73.03M |
| 2024 | $347.22M | $-131.98M | $40.51M | $-66.81M | $103.41M |
| 2023 | $392.11M | $-15.55M | $33.61M | $35.91M | $137.62M |
| 2022 | $358.54M | $45.79M | $34.10M | $112.52M | $125.28M |
| 2021 | $323.09M | $-101.05M | $36.50M | $101.59M | $-21.27M |
| 2020 | $424.35M | $-353.30M | $59.85M | $-142.60M | $96.36M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-06-15 | $0.16 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-03-16 | $0.16 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-15 | 2025-12-15 | $0.16 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-09-15 | $0.16 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-14 | 2025-06-16 | $0.16 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-03-17 | $0.16 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-15 | 2024-12-16 | $0.16 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-15 | 2024-07-30 | $0.16 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-15 | 2024-06-17 | $0.20 | Quarterly |
| 2024-03-27 | 2024-03-29 | 2024-04-15 | 2024-03-15 | $0.20 | Quarterly |
| 2023-12-28 | 2023-12-31 | 2024-01-12 | 2023-12-14 | $0.20 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-13 | 2023-09-14 | $0.20 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-14 | 2023-06-16 | $0.20 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-17 | 2023-03-16 | $0.20 | Quarterly |
| 2022-12-29 | 2022-12-31 | 2023-01-17 | 2022-12-14 | $0.20 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-14 | 2022-09-15 | $0.20 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-06-15 | $0.20 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-15 | 2022-03-15 | $0.19 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-14 | 2021-11-03 | $0.18 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-15 | 2021-08-04 | $0.16 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-15 | 2021-05-05 | $0.14 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-15 | 2021-02-24 | $0.10 | Quarterly |
| 2020-03-30 | 2020-03-31 | 2020-04-10 | 2020-03-16 | $0.10 | Monthly |
| 2020-02-27 | 2020-02-29 | 2020-03-10 | 2020-02-14 | $0.10 | Monthly |
Coverage (payout of operating cash flow): 111.20%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.