BrightSpire Capital Inc. Class A Common Stock (BRSP)

FairStock Score: 63/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at BrightSpire Capital as a lender, not an operating compounder. It originates and holds commercial real estate debt, so credit underwriting, not scale, determines the outcome. There is little durable moat; capital is fungible and CRE lending is cyclical. At the 2026-10-13 close of $3.78, FairStock calculates price-to-book of 0.56 and return on equity of -3.74%. The filed results are uneven. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $83.5 million and net income was -$18.3 million. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $4.8 million. For FY2025, ended 2025-12-31, revenue was $330.6 million and net income was -$31.1 million, improving from a -$132.0 million loss in FY2024, ended 2024-12-31, but still a loss. Revenue has fallen from $415.1 million in FY2023, ended 2023-12-31, to $358.8 million in FY2024, ended 2024-12-31, to $330.6 million in FY2025, ended 2025-12-31. Debt-to-equity of 3.01 magnifies the risk, and the listed 15.42% dividend yield looks stretched against losses. FairStock's 63/100 score and Piotroski 5/9 suggest middling quality. The FairStock Lynch category is TURNAROUND, based on a loss in the latest year after earlier profits. The discount to book is the main attraction, but book value depends on loan marks. CET1, net interest margin and combined ratio are not in the data. Until credit losses stabilize and revenue stops sliding, I treat this as a speculative asset play.

In plain English: BrightSpire Capital lends money against commercial property and owns some net-leased real estate. It has been losing money lately, including in the quarter ended June 30, 2026, and revenue has been drifting lower, so the business looks weak and risky. The stock looks cheap compared with its stated book value, but the market may be worried that some loans are worth less than they appear.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer