Key Points
- Director Peter Mcdonough sold 1,500 shares on November 21 at $10.00 each for $15,000, leaving him with 45,926 shares (a 3.16% reduction in his holding).
- Franklin BSP declared a quarterly dividend of $0.355 (annualized $1.42) representing a 14.2% yield177.5%.
- Analysts have an average rating of Buy on the stock with a consensus target price of $14.67 (one Strong Buy, four Buy, one Hold), though some firms have trimmed targets recently.
Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) Director Peter Mcdonough sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.00, for a total transaction of $15,000.00. Following the completion of the sale, the director owned 45,926 shares in the company, valued at approximately $459,260. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Franklin BSP Realty Trust Price Performance
Shares of Franklin BSP Realty Trust stock traded up $0.29 during midday trading on Friday, hitting $10.02. 654,562 shares of the company traded hands, compared to its average volume of 547,654. The firm's fifty day moving average price is $10.61 and its 200-day moving average price is $10.87. The stock has a market cap of $817.29 million, a price-to-earnings ratio of 12.52 and a beta of 1.00. Franklin BSP Realty Trust, Inc. has a 12 month low of $9.71 and a 12 month high of $13.58. The company has a debt-to-equity ratio of 3.21, a quick ratio of 81.24 and a current ratio of 81.24.
Franklin BSP Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.355 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 14.2%. Franklin BSP Realty Trust's dividend payout ratio is 177.50%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Jones Trading cut their price objective on Franklin BSP Realty Trust from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Franklin BSP Realty Trust in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Franklin BSP Realty Trust has an average rating of "Buy" and a consensus target price of $14.67.
Check Out Our Latest Analysis on FBRT
Hedge Funds Weigh In On Franklin BSP Realty Trust
A number of hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new stake in shares of Franklin BSP Realty Trust in the third quarter worth $112,000. Centaurus Financial Inc. grew its position in shares of Franklin BSP Realty Trust by 15.5% in the 3rd quarter. Centaurus Financial Inc. now owns 17,518 shares of the company's stock valued at $190,000 after buying an additional 2,345 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Franklin BSP Realty Trust in the third quarter valued at about $45,000. Dark Forest Capital Management LP bought a new position in shares of Franklin BSP Realty Trust during the third quarter worth about $1,304,000. Finally, Verition Fund Management LLC acquired a new position in shares of Franklin BSP Realty Trust in the third quarter worth approximately $120,000. Institutional investors and hedge funds own 59.87% of the company's stock.
Franklin BSP Realty Trust Company Profile
(
Get Free Report)
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).
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