BrightSpire Capital Q2 rev. $23.1mln, Distributable Earnings $3.4mln.

• BrightSpire Capital reports Q2 2025 GAAP net loss of $23.1 million, or ($0.19) per share. • Distributable Earnings of $3.4 million, or $0.03 per share, and Adjusted Distributable Earnings of $22.9 million, or $0.18 per share. • Net book value at $7.65 per share and undepreciated book value at $8.75 per share as of June 30, 2025.

BrightSpire Capital Inc. (BRSP) has announced its financial results for the second quarter of 2025, revealing a GAAP net loss of $23.1 million, or ($0.19) per share. The company's Distributable Earnings for the quarter amounted to $3.4 million, or $0.03 per share, while Adjusted Distributable Earnings stood at $22.9 million, or $0.18 per share. As of June 30, 2025, the net book value was $7.65 per share, and the undepreciated book value was $8.75 per share.

The company's CEO, Michael J. Mazzei, commented on the results, noting that the dividend was covered by Adjusted Distributable Earnings and that the undepreciated book value remained unchanged. Additionally, Mazzei highlighted the reduction of the watch list by approximately 50%, which de-risked the portfolio. The GAAP net book value decrease was attributed to the final resolution of legacy office equity investments, which had previously been written down to zero over a year ago.

BrightSpire Capital is a publicly traded commercial real estate (CRE) credit REIT, focusing on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments and net leased properties predominantly in the United States. The company's primary investment strategy is first mortgage loans.

A conference call to discuss the results is scheduled for Wednesday, July 30, 2025, at 11:00 a.m. ET / 8:00 a.m. PT. To participate, dial (833) 821-4389 ten minutes prior to the start time. International callers should dial (412) 652-1257. The call will also be broadcast live over the Internet and can be accessed on the ‘Shareholders’ section of the company’s website.

References:
[1] https://www.gurufocus.com/news/3012475/brightspire-capital-inc-brsp-q2-2025-earnings-report-preview-what-to-look-for
[2] https://www.stocktitan.net/news/BRSP/bright-spire-capital-inc-announces-second-quarter-2025-financial-hwp6gjvkd7hv.html