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BrightSpire Capital BRSP Provision for Credit Losses

Discontinued — last reported Q2 '22

Provision for Credit Losses at other companies

Blackstone Mortgage Trust logo
Blackstone Mortgage TrustBXMT
$55.06M+11.2%
Apollo Commercial Real Estate Finance logo
Apollo Commercial Real Estate FinanceARI
-$379.22M-12,282%
Ladder Capital logo
Ladder CapitalLADR
$122K+390%
ACR
ACRES Commercial RealtyACR
-$967K+43.7%
NexPoint Real Estate Finance logo
NexPoint Real Estate FinanceNREF
-$2.98M-182%
Sunrise Realty Trust, Inc. logo
Sunrise Realty Trust, Inc.SUNS
$60.28K-48.8%

Segments

By segment

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Senior and Mezzanine Loans and Preferred Equity$15.44M-24.6%
Corporate and Other$0
Net Leased and Other Real Estate$0

Other financials

Income statement

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Revenue$83.5M-2.8%
Net income-$18.3M+20.7%
EPS (diluted)-$0.15+21.1%

Balance sheet

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Cash & equivalents$68.2M-55.8%
Total debt$12.9M-42.4%
Total equity$863.0M-13.2%
Total assets$3.7B+9.9%

Cash flow

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Operating cash flow$29.4M+68.8%
CapEx$500.0K-91.5%
Free cash flow$28.9M+150%

Valuation

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Market cap$619.97M-10.5%
Enterprise value$564.72M+0.7%
P/S1.9×-0.2×

Profitability

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Net margin-8%+0.7pp
FCF margin22%+0.6pp

Returns & leverage

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Return on equity-2.9%+0.8pp
Debt / equity0.0×

Where this comes from

Reported directly by BrightSpire Capital in its filing.

Tagged under the XBRL concept us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal.

The source filing: BrightSpire Capital’s 10-Q, filed August 3, 2022.

Filed
Aug 3, 2022, 4:13 PM EDT
Fiscal quarter
Q2 FY2022
Calendar quarter
Q2 2022
Accession
0001717547-22-000104
Line itemThree Months Ended June 30, 2022Three Months Ended June 30, 2021Six Months Ended June 30, 2022Six Months Ended June 30, 2021
Transaction, investment and servicing expense9826442,1062,932
Interest expense on real estate7,1177,77714,67316,410
Depreciation and amortization8,7209,99417,31419,533
Increase (decrease) of current expected credit loss reserve10,1431,2009,2774,425
Compensation and benefits (including $2,286, $5,443, $4,166 and $9,705 of equity-based compensation expense, respectively)8,26910,05316,49416,839
Operating expense4,0704,0008,4199,809
Restructuring charges150109,321
Total expenses44,56742,91480,273203,734

Item 1. Financial Information

FAQ

What is BrightSpire Capital's provision for credit losses?
BrightSpire Capital (BRSP) reported provision for credit losses of $10.14M in Q2 2022.
What does provision for credit losses mean?
Expense recognized to build or adjust allowances for expected credit losses on loans, receivables, and other financial assets, based on forward-looking CECL methodology.

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