BrightSpire Capital Declares $0.16 Quarterly Dividend for Fourth Quarter 2025
BrightSpire Capital's board approved a $0.16 per share cash dividend for the fourth quarter of 2025. The dividend was paid to Class A common stockholders of record as of December 31, 2025.
BrightSpire Capital, Inc. (NYSE: BRSP) declared a quarterly cash dividend of $0.16 per share for the fourth quarter of 2025, the company's board of directors announced on December 15, 2025. The dividend was paid on January 15, 2026, to Class A common stockholders of record as of December 31, 2025. Read more dividend announcements.
The quarterly payment brings BrightSpire's total 2025 dividend to $0.64 per share for the full year.
| Dividend Details | Information |
|---|---|
| Amount | $0.16 per share |
| Record Date | December 31, 2025 |
| Payment Date | January 15, 2026 |
| Declaration Date | December 15, 2025 |
Financial Performance
BrightSpire reported fourth quarter 2025 adjusted distributable earnings of $0.15 per share and $0.64 per share for the full year 2025. The company posted a GAAP net loss of $0.12 per share in the fourth quarter and $0.26 per share for the full year.
The company's distributable loss was $0.28 per share in the fourth quarter and $0.13 per share for the full year 2025.
Balance Sheet and Book Value
As of December 31, 2025, BrightSpire reported GAAP net book value of $7.30 per share and undepreciated book value of $8.44 per share. Total undepreciated book value stood at $1.1 billion.
The company maintained $168 million in available liquidity, comprising $98 million of unrestricted cash and $70 million in undrawn capacity on its revolving credit facility.
Portfolio Activity
BrightSpire committed $416 million across 13 new senior loans during the fourth quarter and $756 million across 26 new loans for the full year 2025. The company received $40 million in repayment proceeds from five loans in the quarter and $275 million from 24 loans for the year.
The company's loan portfolio totaled $2.7 billion as of December 31, 2025, with an average loan size of $27 million and weighted average unlevered yield of 7.3 percent. Multifamily properties represented 67 percent of the loan portfolio.
Share Repurchase and Capital Activity
During the fourth quarter, BrightSpire repurchased 1.1 million shares of Class A common stock for $6.0 million at a blended price of $5.39 per share.
Following year-end, the company closed a $955 million collateralized loan obligation with an 87.25 percent advance rate and cost of funds at S+1.69 percent before transaction costs. The CLO includes $98 million in available ramp-up proceeds and a 2.5-year reinvestment period.
The company also amended and extended its revolving credit facility to $120 million with an accordion feature allowing expansion to $180 million. The facility has a three-year term with maturity in December 2028. BrightSpire also amended and upsized one of its master repurchase facilities from $400 million to $500 million.
BrightSpire Capital is a commercial real estate credit REIT focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of commercial real estate debt investments and net leased properties in the United States.