BrightSpire Capital reported second quarter 2026 results with a GAAP net loss attributable to common stockholders of $18.3 million, or $(0.15) per share, while reporting Distributable Earnings of $15.8 million, or $0.12 per share, and Adjusted Distributable Earnings of $16.8 million, or $0.13 per share. The company reported a GAAP net book value of $6.81 per share and undepreciated book value of $8.10 per share as of June 30, 2026. Management highlighted the largest quarterly share buyback in company history, positive net loan originations and progress rotating capital out of owned real estate equity into first mortgage loans.
Financial Highlights
- GAAP net loss attributable to common stockholders: $(18.3) million; $(0.15) per share for Q2 2026.
- Distributable Earnings: $15.8 million; $0.12 per share for Q2 2026.
- Adjusted Distributable Earnings: $16.8 million; $0.13 per share for Q2 2026.
- GAAP net book value per share: $6.81 as of June 30, 2026.
- Undepreciated book value per share: $8.10 as of June 30, 2026.
Business Highlights
- Completed $319 million of committed loan originations in the quarter, with an additional $295 million closed or in execution subsequent to quarter end.
- Loan portfolio expanded to approximately $2.9 billion, representing over 20% growth year-over-year.
- Executed the largest quarterly share buyback in company history during Q2 2026.
- Entered into a contract for the sale of a triple net lease asset as part of a strategy to rotate capital from owned real estate equity into core first mortgage lending.
- Reported positive net loan originations and a net reduction in watch list exposure; management emphasized continued focus on resolving remaining REO properties and redeploying capital to drive earnings growth.
Original SEC Filing:
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