By Connor Hart
BrightSpire Capital's board approved a $50 million-share repurchase program.
The New York-based real estate investment trust said Tuesday that the plan will allow it to repurchase shares in open market purchases, as well as through privately negotiated transactions.
The new plan, set to extend through April 30, 2026, replaces in its entirety the firm's prior buyback program. The old program, also for $50 million, was first announced last April and was set to expire Wednesday.
BrightSpire's new program came as the firm logged net income of $5.3 million, or 4 cents a share, in the first quarter. Adjusted earnings came in at 16 cents a share.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 29, 2025 17:37 ET (21:37 GMT)
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