Franklin BSP Realty Trust (NYSE:FBRT) Trading Down 7.2%

Franklin BSP Realty Trust, Inc. (NYSE:FBRT)’s share price fell 7.2% during trading on Thursday . The company traded as low as $12.83 and last traded at $12.85. 76,829 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 337,563 shares. The stock had previously closed at $13.84.

Wall Street Analysts Forecast Growth

FBRT has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $16.00 target price on shares of Franklin BSP Realty Trust in a report on Friday, July 19th. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a report on Thursday, June 27th. Finally, Raymond James raised Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research report on Friday, April 12th.

Franklin BSP Realty Trust Price Performance

The stock has a 50 day moving average of $12.96 and a 200-day moving average of $12.91. The company has a debt-to-equity ratio of 3.21, a quick ratio of 88.39 and a current ratio of 88.39. The company has a market cap of $1.05 billion, a PE ratio of 9.51 and a beta of 1.44.

Franklin BSP Realty Trust (NYSE:FBRT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Franklin BSP Realty Trust had a net margin of 53.82% and a return on equity of 14.32%. The business had revenue of $53.95 million for the quarter, compared to analyst estimates of $54.64 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts predict that Franklin BSP Realty Trust, Inc. will post 1.57 earnings per share for the current year.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 11.09%. The ex-dividend date of this dividend was Friday, June 28th. Franklin BSP Realty Trust’s payout ratio is 107.58%.

Institutional Trading of Franklin BSP Realty Trust

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Franklin BSP Realty Trust by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock valued at $119,886,000 after purchasing an additional 48,171 shares during the period. Strong Tower Advisory Services grew its position in Franklin BSP Realty Trust by 18.7% in the second quarter. Strong Tower Advisory Services now owns 819,612 shares of the company’s stock worth $10,327,000 after acquiring an additional 129,410 shares during the period. Bank of New York Mellon Corp increased its stake in Franklin BSP Realty Trust by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 702,184 shares of the company’s stock worth $8,848,000 after acquiring an additional 39,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Franklin BSP Realty Trust by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 670,299 shares of the company’s stock valued at $9,056,000 after purchasing an additional 11,998 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Franklin BSP Realty Trust by 33.6% during the 2nd quarter. Van ECK Associates Corp now owns 659,801 shares of the company’s stock worth $8,313,000 after purchasing an additional 166,120 shares during the period. 59.87% of the stock is owned by institutional investors and hedge funds.

Franklin BSP Realty Trust Company Profile

Benefit Street Partners operates as a self-managed real estate investment trust (REIT). BSP earns income from investing in a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises, either Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the government-sponsored enterprises (GSEs)), or by an agency of the federal government, Government National Mortgage Association (Ginnie Mae).