Brightspire Capital Inc Up 2.54% To $5.65 After Earnings Beat

Brightspire Capital Inc (BRSP) reported better than expected earnings this afternoon for Q3 2023.

Analyst expectations for Brightspire Capital Inc earnings per share (EPS) were at $0.21, with the company surpassing those estimates with a reported EPS of $0.28, leading to a positive surprise of $0.07 per share (33%). Brightspire Capital Inc's earnings rose 12% year-over-year as the firm reported an EPS of $0.25 in its year-ago quarter. The positive annual growth shows the Real Estate company is performing well amid recent economic conditions.

Revenues were upbeat at $59.1 million. That is an increase of 6.98% in revenues from the year-ago report and is 101.24% higher than consensus estimates set at $29.4 million.

The stock is up 2.54% to $5.65 after the report.

Brightspire Capital Inc's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 27. Meanwhile, the average Wall Street analyst rated the stock a Buy.

BrightSpire Capital Inc is an internally-managed commercial real estate credit REIT focused on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and net lease real estate investments predominantly in the United States.