BrightSpire raised to buy at BTIG on earnings, portfolio growth outlook
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BTIG upgraded BrightSpire Capital (BRSP) to Buy from Neutral, citing confidence in the company's portfolio and earnings growth for 2026. The stock rose 2.2% in premarket trading. Analyst Thomas Catherwood noted a 13.3% increase in Q4 2025 origination activity and a low debt-to-equity ratio of 2.3x. BTIG projects a 30% growth in the loan book to ~$3.5B in 2026, with distributable earnings expected to reach $0.67 in 2026 and $0.74 in 2027. The Buy rating is consistent with the average Wall Street rating.
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