Brightspire Capital Inc ( (BRSP) ) has released its Q4 earnings. Here is a breakdown of the information Brightspire Capital Inc presented to its investors.
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BrightSpire Capital, Inc., a leading commercial real estate credit REIT, focuses on originating, acquiring, financing, and managing a diversified portfolio of primarily CRE debt investments and net leased properties in the United States.
In its latest earnings report, BrightSpire Capital revealed a GAAP net loss for the fourth quarter and full year of 2024, alongside positive Distributable and Adjusted Distributable Earnings. Despite the net loss, the company highlighted achievements in loan originations and resolutions of watchlist assets, maintaining a strong liquidity position.
Key financial outcomes for the fourth quarter include a GAAP net loss of $19.7 million and Adjusted Distributable Earnings of $23.7 million. For the full year, the company reported a GAAP net loss of $132.0 million, with Adjusted Distributable Earnings reaching $109.2 million. The company’s net book value per share stood at $8.08, with an undepreciated book value per share of $8.89.
Looking forward, BrightSpire Capital remains focused on resolving existing watchlist and REO assets while expanding its portfolio through new loan originations. The management anticipates continued growth in earnings and portfolio expansion in the coming quarters.