Key Points
- Director buying: Franklin BSP Realty Trust director Buford Ortale bought 29,597 shares on June 15 at an average price of $9.85, spending about $291,530.45. After the purchase, he directly owned 28,900 shares valued at roughly $284,665.
- Dividend remains attractive: The company announced a quarterly dividend of $0.20 per share, payable July 10 to shareholders of record on June 30. That implies an annualized yield of about 9.8%, though the payout ratio is high at 156.86%.
- Mixed outlook: FBRT recently reported quarterly EPS of $0.09, below the $0.22 consensus estimate, even as revenue slightly topped forecasts. Analysts currently rate the stock a Hold on average, with a mean price target of $11.50.
Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) Director Buford Ortale bought 29,597 shares of the stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $9.85 per share, with a total value of $291,530.45. Following the completion of the purchase, the director directly owned 28,900 shares of the company's stock, valued at approximately $284,665. This trade represents a -4,246.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Franklin BSP Realty Trust Stock Down 2.7%
Shares of FBRT opened at $8.20 on Thursday. The firm has a market capitalization of $630.69 million, a P/E ratio of 16.07 and a beta of 0.92. Franklin BSP Realty Trust, Inc. has a 12-month low of $8.12 and a 12-month high of $11.84. The company has a current ratio of 90.06, a quick ratio of 90.06 and a debt-to-equity ratio of 3.74. The firm has a fifty day moving average price of $8.75 and a 200-day moving average price of $9.39.
Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.13). Franklin BSP Realty Trust had a net margin of 24.26% and a return on equity of 6.46%. The company had revenue of $74.38 million for the quarter, compared to analysts' expectations of $73.09 million. Equities research analysts expect that Franklin BSP Realty Trust, Inc. will post 0.72 earnings per share for the current year.
Franklin BSP Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 9.8%. Franklin BSP Realty Trust's dividend payout ratio is 156.86%.
Hedge Funds Weigh In On Franklin BSP Realty Trust
A number of large investors have recently added to or reduced their stakes in the company. Ipsen Advisor Group LLC bought a new position in Franklin BSP Realty Trust in the first quarter worth about $88,000. Bank of America Corp DE raised its holdings in Franklin BSP Realty Trust by 50.6% in the first quarter. Bank of America Corp DE now owns 125,027 shares of the company's stock worth $1,061,000 after purchasing an additional 41,992 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Franklin BSP Realty Trust by 162.1% during the first quarter. Quantinno Capital Management LP now owns 43,029 shares of the company's stock valued at $365,000 after acquiring an additional 26,611 shares in the last quarter. Q Global Advisors LLC increased its holdings in shares of Franklin BSP Realty Trust by 32.1% during the first quarter. Q Global Advisors LLC now owns 398,078 shares of the company's stock valued at $3,380,000 after acquiring an additional 96,723 shares in the last quarter. Finally, Waverly Advisors LLC acquired a new position in shares of Franklin BSP Realty Trust during the first quarter valued at about $255,000. 59.87% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Citizens Jmp lowered their price objective on shares of Franklin BSP Realty Trust from $12.00 to $11.00 and set a "market outperform" rating for the company in a research note on Thursday, April 16th. Zacks Research lowered shares of Franklin BSP Realty Trust from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Citigroup reaffirmed an "outperform" rating on shares of Franklin BSP Realty Trust in a research note on Thursday, April 16th. Wall Street Zen raised shares of Franklin BSP Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Weiss Ratings lowered shares of Franklin BSP Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $11.50.
Check Out Our Latest Analysis on Franklin BSP Realty Trust
Franklin BSP Realty Trust Company Profile
(
Get Free Report)
Franklin BSP Realty Trust, Inc (NYSE: FBRT) is a publicly traded real estate investment trust sponsored by an affiliate of Franklin Square Capital Partners. The company focuses on acquiring, owning and managing single-tenant net leased commercial properties across the United States. Its portfolio spans retail, office, industrial and other property types, with leases structured to shift most property‐level responsibilities—such as maintenance, property taxes and insurance—to the tenants.
By concentrating on net lease investments, Franklin BSP Realty Trust aims to generate stable and predictable rental income streams.
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