NEW YORK (AP) — NEW YORK (AP) — BrightSpire Capital, Inc. (BRSP) on Monday reported third-quarter net income of $12.4 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of 9 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 28 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The real estate investment trust posted revenue of $75.6 million in the period. Its adjusted revenue was $32 million.
Colony Credit shares have fallen 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.51, a fall of 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRSP at https://www.zacks.com/ap/BRSP
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