On October 30, 2023, BrightSpire Capital Inc (BRSP, Financial) announced its financial results for the third quarter ended September 30, 2023. The company reported a GAAP net income attributable to common stockholders of $12.4 million, or $0.09 per share. The Distributable Earnings stood at $31.0 million, or $0.24 per share, and Adjusted Distributable Earnings at $35.8 million, or $0.28 per share.
Financial Highlights
As of September 30, 2023, BrightSpire Capital Inc (BRSP, Financial) reported a GAAP net book value of $10.11 per share and an undepreciated book value of $11.55 per share. The company's CEO, Michael J. Mazzei, commented on the results, stating,
BrightSpire Capital reported quarterly Adjusted Distributable Earnings of $0.28 per share and undepreciated book value of $11.55 per share. While we reported another quarter of strong dividend coverage and a slight increase to book value, we remain focused on asset and liability management and maintaining high cash balances until market conditions improve."
Dividend Announcement
On September 14, 2023, the company's Board of Directors declared a quarterly cash dividend of $0.20 per share to holders of Class A common stock for the third quarter of 2023. This dividend was paid on October 13, 2023, to common stockholders of record on September 30, 2023.
About BrightSpire Capital Inc
BrightSpire Capital Inc (BRSP, Financial) is internally managed and one of the largest publicly traded commercial real estate (CRE) credit REITs. The company focuses on originating, acquiring, financing, and managing a diversified portfolio primarily consisting of CRE debt investments and net leased properties predominantly in the United States.
For more detailed financial information, a full detailed Third Quarter 2023 Supplemental Financial Report is available on the company's website at www.brightspire.com.
Explore the complete 8-K earnings release (here) from BrightSpire Capital Inc for further details.
