BrightSpire Capital Q4 Earnings Call Highlights

3 days ago 4

MarketBeat

Wed, February 18, 2026 astatine 10:55 AM CST 8 min read

BrightSpire Capital logo

Originations accelerated: Since restarting originations BrightSpire closed 32 caller loans totaling $941 million successful commitments, increasing the indebtedness publication to astir $2.7 billion and targeting astir $3.5 billion by year-end portion modeling quarterly originations of ~$300–$400 million.
Watchlist and REO being monetized: Management accelerated income and foreclosures to trim watchlist vulnerability to astir $66 million, is selling the bulk of remaining REO (with the San Jose Hotel representing astir fractional the balance) and expects proceeds to escaped >$200 cardinal of equity for higher‑return deployments.
Q4 results and superior position: BrightSpire reported a Q4 GAAP nett nonaccomplishment of $14.4 cardinal ($0.12 per share) but adjusted distributable net of $0.15 (just shy of the $0.16 quarterly dividend), had ~$168 million liquidity, repurchased 1.1 cardinal shares, and closed a $955 cardinal CLO.
Interested successful BrightSpire Capital, Inc.? Here are 5 stocks we similar better.

BrightSpire Capital (NYSE:BRSP) reported a fourth-quarter GAAP nett nonaccomplishment attributable to communal stockholders of $14.4 million, oregon $0.12 per share, arsenic absorption emphasized continued advancement rotating the portfolio distant from challenged assets portion accelerating caller indebtedness originations.

During the company’s Feb. 18 net call, executives said they person reduced watchlist loans and existent property owned (REO) vulnerability done income and resolutions, adjacent arsenic indebtedness originations gained momentum precocious successful 2025 and into aboriginal 2026. Management besides reiterated priorities for 2026, including expanding the indebtedness portfolio, monetizing REO—particularly the San Jose Hotel—and executing different commercialized existent property collateralized indebtedness work (CRE CLO) aboriginal successful the year.

→ Whale Watching: BlackRock’s Massive Bet connected Nebius Group

General Counsel David Palamé said BrightSpire posted a fourth-quarter distributable net (DE) nonaccomplishment of $35.5 million, oregon $0.28 per share, and adjusted distributable net of $19.3 million, oregon $0.15 per share. The institution reported liquidity of $168 million, including $98 cardinal of unrestricted cash.

Chief Financial Officer Frank Saracino said DE for the 4th included circumstantial reserves of astir $54.9 million. The GAAP nett nonaccomplishment besides included an astir $8 cardinal impairment complaint related to the merchantability of Long Island City bureau properties.

→ Meta's Platfroms' New Bull: Why Billionaire Bill Ackman Is Buying

BrightSpire’s GAAP nett publication worth was $7.30 per stock astatine Dec. 31, down from $7.53 per stock successful the 3rd quarter, portion undepreciated publication worth was $8.44 per share, down from $8.68 per share. Saracino said the institution made a strategical determination to “pull forward” resolutions of definite watchlist and REO assets, taking what helium characterized arsenic a constricted simplification successful publication worth to monetize assets and reinvest proceeds.

Read Entire Article