Brightspire Capital

BRSP · NYSE

$3.59+$0.00 (+0.00%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $3.59

BRSP analyst rating

BuyConsensus of 5 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy4
Hold0
Underperform1
Sell0

12-month price target · 10 analysts

Average $6.47 (+80.2% upside)

Low: $5.30
Now: $3.59
High: $7.35

Upgrades and downgrades

The latest rating actions, newest first

BRSP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citizens	Oct 7, 2026	Maintains	Market Outperform	$7.00 → $6.00	26%
Barclays	Oct 5, 2026	Maintains	Underweight	$6.00 → $4.00	30%
B. Riley Securities	Jul 30, 2026	Maintains	Buy	$7.00 → $6.50	9%
Jones Trading	Jul 29, 2026	Maintains	Buy	$6.50	44%
Jones Trading	Jun 3, 2026	Maintains	Buy	$6.50	44%
BTIG	Apr 22, 2026	Upgrade	Neutral → Buy	$7.00	28%
Barclays	Feb 19, 2026	Maintains	Underweight	$5.00 → $6.00	30%
Jones Trading	Feb 18, 2026	Maintains	Buy	$6.50	44%

The case for and against

Updated Oct 14, 2026

Bull case

BrightSpire Capital is benefiting from a larger, higher-quality loan book that grew 6.0% sequentially to $2.9B at June 30, supported by 10 new loans totaling $319.0M in UPB and a 7.2% weighted average unlevered all-in yield. Credit trends also look constructive, with watchlist exposure falling to $136.0M from $166.0M at March 31, no specific CECL reserves at quarter-end, and the weighted average risk rating improving to 3.0. The company’s predominantly multifamily portfolio at 70%, along with progress rotating out of legacy assets, positive net loan deployment, and meaningful repurchase accretion, supports the view that earnings quality and dividend coverage are improving.

Bear case

BrightSpire Capital is facing a weak fundamental setup because 2Q26 adjusted distributable EPS of $0.13 did not cover the $0.16 dividend, while GAAP loss was $0.15 per share and book value fell 1.7% to $8.10, showing pressure on both earnings and capital preservation. Credit risk remains elevated as the company holds transitional CRE exposure and no allowance against credit losses, yet real estate impairments and an $0.11 rise in CECL reserves already weighed on results. Although liquidity was $131M and share repurchases supported book value, leverage rose to 2.7x with $2.8B of debt and a 5.50% funding cost, leaving returns vulnerable in a highly competitive lending market.

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