NEW YORK (AP) — NEW YORK (AP) — BrightSpire Capital, Inc. (BRSP) on Wednesday reported a fourth-quarter loss of $16.3 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 13 cents. 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 25 cents per share.

The real estate investment trust posted revenue of $73.1 million in the period. Its adjusted revenue was $30.2 million.

For the year, the company reported a loss of $15.5 million, or 12 cents per share, swinging to a loss in the period. Revenue was reported as $125.4 million.

Colony Credit shares have fallen 11% since the beginning of the year. The stock has fallen nearly 10% in the last 12 months.

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