BrightSpire Capital, Inc.

NEW YORK--(BUSINESS WIRE)--BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced that the Company's Board of Directors has declared a dividend of $0.16 per share of Class A common stock for the quarter ending September 30, 2026. The dividend is payable on October 14, 2026 to stockholders of record as of September 30, 2026. About BrightSpire Capital, Inc. BrightSpire Capital, Inc. (NYSE: BRSP) is internally managed and one of the largest publicly traded.

Commercial borrowers faced intense debt-service pressure when floating rates surged against fixed cap rates; with rates now plateaued, the pace of new default formation has materially slowed. Non-recourse commercial mortgages grant lenders clear, established paths to take over physical collateral without destructive bankruptcy delays; mREITs have the flexibility to operate and lease foreclosed properties rather than fire-selling. The liquidation of Apollo Commercial's loan portfolio at 99.7% of book value conclusively demonstrated that secondary market +40% discounts vastly overestimate realized credit impairments.

BrightSpire (BRSP) continues to deliver negative total returns since 2018, underperforming even Treasury bills despite recent marginal gains. BRSP's adjusted distributable earnings remain insufficient to fully cover its dividend, with GAAP net losses and persistent book value erosion. We review the recent results and management plans to cover the distribution.

BrightSpire Capital, Inc. (BRSP) Q2 2026 Earnings Call Transcript