BrightSpire Capital, Inc. had a productive first quarter in 2025, marked by positive net deployment, reduced leverage, and stable watchlist and CECL reserves. The company reported GAAP net income of $5.3 million and Distributable Earnings of $11.4 million.
GAAP net income attributable to common stockholders was $5.3 million, or $0.04 per share.
Distributable Earnings reached $11.4 million, or $0.09 per share.
Adjusted Distributable Earnings were $20.1 million, or $0.16 per share.
GAAP net book value per share was $7.92, and undepreciated book value per share was $8.75 as of March 31, 2025.
The company expects to continue resolving watchlist and REO assets while growing its portfolio through new loan originations for the remainder of 2025.
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