BrightSpire Capital reports Q1 EPS 12c, consensus 16c

Michael Mazzei, CEO, commented, “We had a productive start to 2026 highlighted by positive net deployment year-to-date, with $311 million of committed capital closed during the first quarter and subsequent as well as $283 million in-execution. We also had stability in our CECL reserves quarter over quarter. Most importantly, we reduced our watch list by approximately 39% year to date, meaningfully de-risking the portfolio, and remain actively engaged in resolving our remaining watch list loans and REO properties. The slight decrease in book value was largely attributable to equity grants as part of our annual compensation program, consistent with past practice. As we look toward the remainder of 2026, our focus remains on growing the portfolio and earnings through new loan originations while continuing to resolve what remains of our REO and watch list loans.”