Franklin BSP Realty Trust (NYSE:FBRT) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Franklin BSP Realty Trust (NYSE:FBRT) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

Separately, Raymond James lifted their target price on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $15.50.

Franklin BSP Realty Trust Trading Up 0.8 %

NYSE:FBRT opened at $13.15 on Thursday. Franklin BSP Realty Trust has a 52 week low of $11.99 and a 52 week high of $14.66. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 16.04 and a beta of 1.40. The company’s 50 day moving average price is $12.98 and its 200-day moving average price is $12.99. The company has a quick ratio of 90.45, a current ratio of 90.45 and a debt-to-equity ratio of 3.67.

Franklin BSP Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a dividend of $0.355 per share. The ex-dividend date was Monday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 10.80%. Franklin BSP Realty Trust’s dividend payout ratio is presently 173.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FBRT. Van ECK Associates Corp raised its position in Franklin BSP Realty Trust by 33.6% in the second quarter. Van ECK Associates Corp now owns 659,801 shares of the company’s stock worth $8,313,000 after acquiring an additional 166,120 shares during the period. Gabelli Funds LLC increased its stake in shares of Franklin BSP Realty Trust by 35.2% in the 2nd quarter. Gabelli Funds LLC now owns 175,698 shares of the company’s stock worth $2,214,000 after purchasing an additional 45,698 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Franklin BSP Realty Trust by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,290 shares of the company’s stock worth $13,403,000 after purchasing an additional 117,745 shares during the period. Strong Tower Advisory Services lifted its position in Franklin BSP Realty Trust by 28.7% during the third quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock valued at $13,780,000 after purchasing an additional 235,548 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Franklin BSP Realty Trust by 22.9% during the third quarter. Penserra Capital Management LLC now owns 77,352 shares of the company’s stock valued at $1,010,000 after purchasing an additional 14,415 shares during the period. Institutional investors own 59.87% of the company’s stock.

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).