BrightSpire Capital (BRSP)
Market Price (5/24/2026): $5.665 | Market Cap: $713.4 MilSector: Financials | Industry: Mortgage REITs
BrightSpire Capital (BRSP)
Market Price (5/24/2026): $5.665Market Cap: $713.4 MilSector: FinancialsIndustry: Mortgage REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% Attractive yieldDividend Yield is 3.1%, FCF Yield is 10% Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Credit. | Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -37% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 353% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.5% Key risksBRSP key risks include [1] elevated credit risk from its substantial office sector exposure, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Attractive yieldDividend Yield is 3.1%, FCF Yield is 10% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Credit. |
| Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -37% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 353% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.5% |
| Key risksBRSP key risks include [1] elevated credit risk from its substantial office sector exposure, Show more. |
Qualitative Assessment
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1. Mixed Q1 2026 Financial Performance Offset by Strong Portfolio De-risking.
BrightSpire Capital reported Q1 2026 GAAP net income of $4.8 million, or $0.03 per share, and Adjusted Distributable Earnings of $0.14 per share, which missed analyst estimates of $0.16 per share. Despite the earnings miss, the company highlighted significant progress in de-risking its portfolio, including a roughly 39% year-to-date reduction in watch list loans and stable CECL (Current Expected Credit Loss) reserves. Additionally, BrightSpire Capital closed $311 million of committed capital during the first quarter and subsequent period. This combination of slightly underperforming earnings but strong credit quality improvement and capital deployment likely contributed to a neutral stock movement.
2. Sustained Quarterly Dividend and New Share Repurchase Program.
The company maintained a consistent quarterly cash dividend of $0.16 per share for the first quarter of 2026, payable on April 15, 2026. A stable dividend yield, which stood at approximately 11.03% as of April 29, 2026, typically attracts income-focused investors, providing support for the stock price. Furthermore, BrightSpire Capital's Board of Directors authorized a new stock repurchase program on April 22, 2026, allowing for the repurchase of up to $50 million of its Class A common stock through April 30, 2027, which can act as a floor for the stock by reducing outstanding shares.
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Stock Movement Drivers
Fundamental Drivers
The -2.4% change in BRSP stock from 1/31/2026 to 5/23/2026 was primarily driven by a -5.7% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.81 | 5.67 | -2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 321 | 330 | 2.7% |
| P/S Multiple | 2.3 | 2.2 | -5.7% |
| Shares Outstanding (Mil) | 127 | 126 | 0.8% |
| Cumulative Contribution | -2.4% |
Market Drivers
1/31/2026 to 5/23/2026| Return | Correlation | |
|---|---|---|
| BRSP | -2.4% | |
| Market (SPY) | 8.1% | 53.6% |
| Sector (XLF) | -2.3% | 50.6% |
Fundamental Drivers
The 16.3% change in BRSP stock from 10/31/2025 to 5/23/2026 was primarily driven by a 12.4% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.87 | 5.67 | 16.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 321 | 330 | 2.7% |
| P/S Multiple | 1.9 | 2.2 | 12.4% |
| Shares Outstanding (Mil) | 127 | 126 | 0.8% |
| Cumulative Contribution | 16.3% |
Market Drivers
10/31/2025 to 5/23/2026| Return | Correlation | |
|---|---|---|
| BRSP | 16.3% | |
| Market (SPY) | 9.9% | 41.6% |
| Sector (XLF) | 0.0% | 48.9% |
Fundamental Drivers
The 27.3% change in BRSP stock from 4/30/2025 to 5/23/2026 was primarily driven by a 26.0% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.46 | 5.67 | 27.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 329 | 330 | 0.1% |
| P/S Multiple | 1.7 | 2.2 | 26.0% |
| Shares Outstanding (Mil) | 127 | 126 | 0.9% |
| Cumulative Contribution | 27.3% |
Market Drivers
4/30/2025 to 5/23/2026| Return | Correlation | |
|---|---|---|
| BRSP | 27.3% | |
| Market (SPY) | 36.0% | 44.1% |
| Sector (XLF) | 8.2% | 48.2% |
Fundamental Drivers
The 41.8% change in BRSP stock from 4/30/2023 to 5/23/2026 was primarily driven by a 53.4% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.00 | 5.67 | 41.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 359 | 330 | -8.0% |
| P/S Multiple | 1.4 | 2.2 | 53.4% |
| Shares Outstanding (Mil) | 127 | 126 | 0.5% |
| Cumulative Contribution | 41.8% |
Market Drivers
4/30/2023 to 5/23/2026| Return | Correlation | |
|---|---|---|
| BRSP | 41.8% | |
| Market (SPY) | 86.3% | 46.1% |
| Sector (XLF) | 64.4% | 53.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BRSP Return | 46% | -32% | 35% | -14% | 12% | 5% | 33% |
| Peers Return | 10% | -19% | 2% | 6% | 4% | -5% | -4% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| BRSP Win Rate | 83% | 33% | 50% | 42% | 58% | 40% | |
| Peers Win Rate | 57% | 50% | 45% | 55% | 57% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| BRSP Max Drawdown | -12% | -34% | -31% | -29% | -29% | -11% | |
| Peers Max Drawdown | -22% | -39% | -33% | -14% | -31% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DX, IVR, RC, LOAN, NLY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | BRSP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.5% | -18.8% |
| % Gain to Breakeven | 37.9% | 23.1% |
| Time to Breakeven | 133 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.4% | -7.8% |
| % Gain to Breakeven | 18.2% | 8.5% |
| Time to Breakeven | 43 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.2% | -9.5% |
| % Gain to Breakeven | 33.6% | 10.5% |
| Time to Breakeven | 43 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.7% | -6.7% |
| % Gain to Breakeven | 38.4% | 7.1% |
| Time to Breakeven | 68 days | 31 days |
In The Past
BrightSpire Capital's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.9% gain to breakeven.
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| Event | BRSP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.5% | -18.8% |
| % Gain to Breakeven | 37.9% | 23.1% |
| Time to Breakeven | 133 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.2% | -9.5% |
| % Gain to Breakeven | 33.6% | 10.5% |
| Time to Breakeven | 43 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.7% | -6.7% |
| % Gain to Breakeven | 38.4% | 7.1% |
| Time to Breakeven | 68 days | 31 days |
In The Past
BrightSpire Capital's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BrightSpire Capital (BRSP)
AI Analysis | Feedback
1. It's like Rocket Mortgage, but exclusively for commercial properties (offices, hotels, shopping centers), providing loans and financing for large-scale business real estate.
2. Imagine the commercial real estate lending division of a major bank like JPMorgan Chase or Wells Fargo, but operating as a standalone, publicly traded investment company.
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```html- CRE Senior Mortgage Loans: Providing primary loans secured by commercial real estate properties.
- Mezzanine Loans: Offering subordinated debt, ranking below senior mortgages, for commercial real estate projects.
- Preferred Equity Investments: Investing in equity with preferential claims over common equity in commercial real estate ventures.
- Debt Securities: Acquiring or originating various debt instruments related to commercial real estate.
- Net Leased Properties: Investing in and managing commercial properties under lease agreements where tenants bear most operating expenses.
AI Analysis | Feedback
BrightSpire Capital (BRSP) primarily serves other companies.
As a commercial real estate (CRE) credit real estate investment trust (REIT), BrightSpire Capital's "customers" are the commercial real estate owners, developers, and investors who borrow money from the company or are counterparties in its investment transactions (e.g., in senior mortgage loans, mezzanine loans, preferred equity, or debt securities). These transactions are typically with a diverse group of private commercial real estate entities rather than a concentrated set of large, publicly traded corporations.
Due to the nature of its diversified lending and investment portfolio, BrightSpire Capital does not typically disclose specific "major customer" companies by name and symbol in its public filings. Its revenue is derived from interest income and returns generated across a broad range of individual loans and investments rather than from a concentrated set of specific major borrowers or counterparties.
However, the categories of companies that BrightSpire Capital serves include:
- Commercial Real Estate Owners and Operators: Companies that own and manage various types of commercial properties (e.g., office buildings, multifamily complexes, retail centers, industrial facilities) seeking financing for acquisitions, development, or refinancing.
- Real Estate Developers: Entities focused on developing new commercial properties or redeveloping existing ones, requiring construction or bridge financing.
- Real Estate Investment Firms and Sponsors: Companies or funds that invest in commercial real estate assets and require capital solutions for their projects or portfolios.
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Michael J. Mazzei – Chief Executive Officer & President
Mr. Mazzei leads BrightSpire Capital's operations, including investment and credit risk, capital raising, and relationship management. He previously served as President of Ladder Capital Corp from June 2012 through June 2017 and was a member of its board of directors. Prior to that, Mr. Mazzei held leadership roles as Global Head of the CMBS and Bank Loan Syndication Group at Bank of America Merrill Lynch, Co-Head of CMBS and Commercial Real Estate Debt Markets at Barclays Capital, and spent 20 years at Lehman Brothers, including Co-Head of Global Real Estate Investment Banking.
Frank V. Saracino – Chief Financial Officer, Treasurer & Executive Vice President
Mr. Saracino previously served as Chief Accounting Officer for BrightSpire Capital between November 2018 and December 2020. Before that, he was a Managing Director at Colony Capital, Inc. until April 2021, where he was responsible for the financial accounting and reporting for certain Colony Capital managed real estate investment trusts and vehicles as Chief Financial Officer.
Andrew E. Witt – President & Chief Operating Officer
Mr. Witt has led BrightSpire Capital's business, investment management, and operations capacities since 2019. He served as Interim President and Chief Executive Officer from February 2020 until his appointment as Chief Operating Officer in April 2020. Previously, Mr. Witt was a Managing Director and Chief Operating Officer of Global Credit at Colony Capital, Inc. until April 2021, focusing on credit-related operations and initiatives.
Daniel E. Katz – Managing Director – Head of Originations
Mr. Katz is responsible for the identification and evaluation of new real estate investments in the United States and oversees the investment management team. He previously served as Managing Director, Investment Management at Colony Capital, Inc. until April 2021. Prior to joining a predecessor of Colony Capital in 2014, Mr. Katz was a First Vice President at OneWest Bank, responsible for loan originations. He also held investment positions at Barclays Capital, Och-Ziff, and Blackstone.
Matthew Heslin – Managing Director, Chief Credit Officer & Head of Debt Capital Markets
Mr. Heslin oversees the credit and due diligence of loan originations and leads the debt capital markets team. He previously served as Senior Vice President, Debt Capital Markets at Colony Capital, Inc. until April 2021. Before joining a predecessor of the Colony business in 2014, Mr. Heslin worked at Moody's Investors Service in the CRE CLO and CMBS new issuance groups.
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BrightSpire Capital (BRSP) faces several key risks inherent to its business as a commercial real estate (CRE) credit real estate investment trust. The key risks to BrightSpire Capital's business are:- Elevated Interest Rates and High Financing Costs: Persistent high interest rates significantly impact BrightSpire Capital by increasing its own borrowing costs and, more critically, by putting pressure on its borrowers. Higher debt service requirements for commercial real estate loans can lead to increased non-accruals or defaults within BRSP's loan portfolio. This environment also challenges the company's ability to deploy capital into new investments and has contributed to a decline in interest income.
- Credit Risk and Performance of the Loan Portfolio: As a CRE credit REIT, BrightSpire Capital's financial health is directly tied to the performance of its loan and investment portfolio. There is a risk of borrowers failing to meet their debt obligations, leading to loans being placed on non-accrual status or watchlist. The need to sell Real Estate Owned (REO) assets to reallocate capital also signals stress within the portfolio, directly impacting earnings and overall asset quality.
- Dividend Sustainability and Earnings Volatility: BrightSpire Capital has experienced declining earnings, attributed to lower interest income and rising operating expenses. This has resulted in thin dividend coverage, raising concerns about the sustainability of its dividend payments. Continued pressure from high interest rates and potential deterioration in the quality of its loan portfolio could lead to further earnings volatility and a risk of dividend cuts, which can negatively impact investor confidence and stock price.
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BrightSpire Capital, Inc. operates within the substantial U.S. commercial real estate (CRE) credit market, focusing on a range of debt and equity products. The addressable markets for its main products and services in the United States are as follows:Commercial Real Estate (CRE) Senior Mortgage Loans and Debt Securities
The total outstanding commercial real estate (CRE) debt in the U.S. was approximately $5.9 trillion as of the fourth quarter of 2023. More recent estimates indicate the U.S. commercial real estate mortgage market stands at around $4.8 trillion, or $4.81 trillion, as of Q2 2025 and Q1 2025 respectively. This market encompasses various forms of CRE debt, including senior mortgage loans, which constitute a significant portion of BrightSpire's portfolio. Additionally, a considerable volume of loans is expected to mature in the near future, with approximately $1.7 trillion (nearly 30% of outstanding debt) projected to mature from 2024 to 2026, creating substantial refinancing opportunities. Another estimate indicates more than $1 trillion of loans maturing in 2025 alone. Within CRE debt, debt securities, such as commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO), and other asset-backed securities (ABS) issues, represent a significant segment. This category accounted for approximately 12% of the total CRE debt outstanding in Q4 2023, equating to about $708 billion. By Q1 2025, CMBS, CDO, and other ABS issues held $642 billion, or 13%, of commercial/multifamily mortgages.Mezzanine Loans
The North American mezzanine finance market, largely driven by the U.S., was valued at approximately $118.5 billion in 2024. This market is projected to expand significantly, with estimates suggesting it could reach around $252 billion by 2034. Mezzanine financing serves to bridge the gap between traditional senior debt and equity contributions in a project's capital structure.Preferred Equity
While a specific market size for preferred equity in commercial real estate is not explicitly available, it is identified as a component within "layered capital stacks" alongside senior mortgages and mezzanine debt. This indicates that preferred equity plays a role within the broader CRE investment and financing landscape addressed by BrightSpire Capital.Net Leased Properties
The U.S. net lease investment market demonstrated significant activity in recent years. Full-year 2024 net-lease investment volume totaled $43.7 billion, and it further surged to $51.4 billion in 2025. The net lease market has experienced considerable growth over the past two decades, now representing approximately 11% of all U.S. commercial real estate transactions, and its annual value is estimated to be well over $100 billion when accounting for unreported activity.AI Analysis | Feedback
BrightSpire Capital (BRSP) is expected to drive future revenue growth over the next 2-3 years through several key strategies and favorable market conditions: * Growth in Loan Originations and Portfolio Expansion: BrightSpire Capital is focused on expanding its loan book through new originations. The company has demonstrated strong momentum, closing 32 new loans totaling $941 million since late 2024, with the fourth quarter of 2025 being its most active funding quarter since restarting originations. Management has set a target to grow the loan book to $3.5 billion by year-end 2026, anticipating $300-$400 million in new loan originations per quarter in 2026. * Resolution of Watchlist Loans and Real Estate Owned (REO) Assets: The company is actively working to reduce its exposure to watchlist loans and monetize its REO assets. This strategic initiative aims to free up capital, reduce potential losses, and allow for the redeployment of capital into new, higher-yielding investments. BrightSpire Capital expects watchlist loans to decline by approximately 70% from $220 million to $66 million, and REO assets to decrease by about 15% from $315 million to $266 million in early 2026 through repayments and planned asset sales. * Execution of CLO Securitizations: BrightSpire Capital plans to execute a fifth Collateralized Loan Obligation (CLO) securitization in the second half of 2026. This strategy helps the company efficiently finance its loan portfolio, manage its balance sheet, and generate additional revenue streams through securitization activities. * Favorable Commercial Real Estate Debt Market Conditions: Management has observed improving conditions in the commercial real estate debt markets, including active CMBS/CLO markets and an increase in loan inquiries. These "Goldilocks" market conditions are expected to create a more robust environment for new lending opportunities, supporting BrightSpire's origination efforts and overall revenue growth.AI Analysis | Feedback
Share Repurchases
- BrightSpire Capital authorized a stock repurchase program of up to $100 million in May 2022, valid until April 30, 2023.
- In May 2024, the company announced a share repurchase program authorizing up to $50 million of its Class A common stock until April 30, 2025.
- During the fourth quarter of 2025, BrightSpire repurchased approximately 1.1 million shares for $6 million, and in Q2 2025, it repurchased 561,000 shares at an average price of $5.19.
Share Issuance
- A secondary offering of 30,358,213 shares of Class A common stock by DigitalBridge Group, Inc. was announced in February 2023.
Outbound Investments
- BrightSpire Capital closed 32 new loans totaling $941 million in commitments since late 2024, with $416 million closed during the fourth quarter of 2025.
- The company aims to grow its loan book from $2.7 billion at the end of 2025 to approximately $3.5 billion by year-end 2026.
- A strategic focus is to increase multifamily property exposure to over 50% and reduce office exposure within its portfolio.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 6.77 |
| Mkt Cap | 0.7 |
| Rev LTM | 192 |
| Op Inc LTM | 27 |
| FCF LTM | 119 |
| FCF 3Y Avg | 137 |
| CFO LTM | 119 |
| CFO 3Y Avg | 137 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.7% |
| Rev Chg 3Y Avg | 104.1% |
| Rev Chg Q | -7.9% |
| QoQ Delta Rev Chg LTM | -10.0% |
| Op Inc Chg LTM | 177.0% |
| Op Inc Chg 3Y Avg | -33.6% |
| Op Mgn LTM | 8.3% |
| Op Mgn 3Y Avg | 1.1% |
| QoQ Delta Op Mgn LTM | -1.0% |
| CFO/Rev LTM | 60.6% |
| CFO/Rev 3Y Avg | 57.4% |
| FCF/Rev LTM | 60.6% |
| FCF/Rev 3Y Avg | 57.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.7 |
| P/S | 7.0 |
| P/Op Inc | 26.1 |
| P/EBIT | -18.4 |
| P/E | 8.3 |
| P/CFO | 6.7 |
| Total Yield | 9.5% |
| Dividend Yield | 1.5% |
| FCF Yield 3Y Avg | 12.6% |
| D/E | 1.3 |
| Net D/E | 1.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.8% |
| 3M Rtn | -3.4% |
| 6M Rtn | 2.9% |
| 12M Rtn | 26.1% |
| 3Y Rtn | 35.5% |
| 1M Excs Rtn | -9.9% |
| 3M Excs Rtn | -12.3% |
| 6M Excs Rtn | -7.8% |
| 12M Excs Rtn | -1.3% |
| 3Y Excs Rtn | -45.1% |
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Senior and Mezzanine Loans and Preferred Equity | 2,534 | 3,004 | 3,581 | 3,589 | 1,930 |
| Net Leased and Other Real Estate | 888 | 934 | 865 | 963 | 1,261 |
| Corporate and Other | 302 | 261 | 289 | 245 | 1,300 |
| Commercial real estate (CRE) Debt Securities | 15 | 840 | 1,721 | ||
| Total | 3,723 | 4,198 | 4,750 | 5,638 | 6,212 |
Price Behavior
| Market Price | $5.67 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 02/01/2018 | |
| Distance from 52W High | -6.6% | |
| 50 Days | 200 Days | |
| DMA Price | $5.75 | $5.46 |
| DMA Trend | up | up |
| Distance from DMA | -1.4% | 3.9% |
| 3M | 1YR | |
| Volatility | 23.4% | 22.3% |
| Downside Capture | 113.75 | 67.70 |
| Upside Capture | 86.59 | 74.41 |
| Correlation (SPY) | 54.8% | 40.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.90 | 0.90 | 0.88 | 0.66 | 0.83 | 0.93 |
| Up Beta | 0.64 | 0.47 | 0.36 | 0.45 | 0.97 | 0.67 |
| Down Beta | 3.75 | 1.41 | 1.55 | 0.84 | 0.89 | 1.10 |
| Up Capture | 68% | 104% | 93% | 90% | 74% | 97% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 22 | 33 | 65 | 123 | 380 |
| Down Capture | 127% | 85% | 89% | 51% | 73% | 102% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 7 | 16 | 25 | 50 | 111 | 339 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRSP | |
|---|---|---|---|---|
| BRSP | 27.9% | 22.3% | 1.02 | - |
| Sector ETF (XLF) | 4.9% | 14.5% | 0.11 | 44.5% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 39.7% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | 10.9% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -16.7% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 40.1% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 20.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRSP | |
|---|---|---|---|---|
| BRSP | 2.3% | 32.7% | 0.13 | - |
| Sector ETF (XLF) | 8.4% | 18.6% | 0.33 | 55.1% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 51.7% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 7.6% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 12.4% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 57.3% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 21.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BRSP | |
|---|---|---|---|---|
| BRSP | -4.4% | 51.6% | 0.09 | - |
| Sector ETF (XLF) | 12.9% | 22.1% | 0.53 | 54.3% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 47.7% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 7.8% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 19.1% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 56.7% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 15.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | -4.4% | -2.8% | |
| 2/17/2026 | 0.5% | -2.4% | -3.3% |
| 10/28/2025 | -0.6% | 0.8% | 7.4% |
| 7/29/2025 | 4.6% | 7.8% | 14.7% |
| 4/29/2025 | -0.8% | 0.8% | 1.6% |
| 2/18/2025 | 2.2% | 3.0% | 0.7% |
| 10/29/2024 | 18.3% | 10.5% | 21.1% |
| 7/30/2024 | -7.6% | -13.5% | -5.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 13 |
| # Negative | 15 | 15 | 11 |
| Median Positive | 3.4% | 2.6% | 11.9% |
| Median Negative | -1.5% | -2.8% | -5.2% |
| Max Positive | 18.3% | 19.9% | 78.1% |
| Max Negative | -7.6% | -13.5% | -17.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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