Key Points
- CEO Richard Byrne bought 162,600 Franklin BSP Realty Trust shares at an average price of $6.14, a transaction worth about $998,000, according to an SEC filing.
- The company’s latest quarterly results missed expectations: it reported a loss of $0.02 per share versus consensus for earnings of $0.25, and revenue of $22.11 million versus estimates of $72.54 million.
- Franklin BSP declared a quarterly dividend of $0.20 per share, equivalent to an annualized yield of 12.7% at the article’s cited share price. Analyst opinions were mixed, with a consensus rating of Hold and an average price target of $10.75.
Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) CEO Richard Byrne bought 162,600 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The stock was bought at an average price of $6.14 per share, with a total value of $998,364.00. Following the completion of the acquisition, the chief executive officer owned 162,600 shares of the company's stock, valued at $998,364. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Franklin BSP Realty Trust Trading Down 2.4%
FBRT opened at $6.28 on Friday. The business has a fifty day moving average price of $6.95 and a 200 day moving average price of $8.29. The company has a debt-to-equity ratio of 3.60, a current ratio of 83.00 and a quick ratio of 83.00. Franklin BSP Realty Trust, Inc. has a 12 month low of $5.90 and a 12 month high of $10.82. The stock has a market capitalization of $474.85 million, a price-to-earnings ratio of -78.43 and a beta of 1.10.
Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.27). Franklin BSP Realty Trust had a net margin of 6.38% and a return on equity of 4.30%. The company had revenue of $22.11 million during the quarter, compared to analyst estimates of $72.54 million. Sell-side analysts expect that Franklin BSP Realty Trust, Inc. will post 0.73 earnings per share for the current fiscal year.
Franklin BSP Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 12.7%. Franklin BSP Realty Trust's payout ratio is currently -1,000.00%.
Wall Street Analysts Forecast Growth
Several research firms have commented on FBRT. B. Riley Financial lowered their price target on shares of Franklin BSP Realty Trust from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday. Weiss Ratings lowered shares of Franklin BSP Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. UBS Group set a $10.00 price objective on shares of Franklin BSP Realty Trust in a report on Wednesday, September 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Franklin BSP Realty Trust in a research report on Wednesday, September 23rd. Finally, Zacks Research downgraded shares of Franklin BSP Realty Trust from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 28th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.75.
Get Our Latest Report on FBRT
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Ethic Inc. acquired a new stake in shares of Franklin BSP Realty Trust during the 3rd quarter worth about $80,000. State of Wyoming purchased a new stake in Franklin BSP Realty Trust during the third quarter worth approximately $54,000. Apollon Wealth Management LLC purchased a new stake in Franklin BSP Realty Trust during the third quarter worth approximately $92,000. Simplicity Wealth LLC purchased a new stake in Franklin BSP Realty Trust during the third quarter worth approximately $68,000. Finally, Engineers Gate Manager LP acquired a new position in Franklin BSP Realty Trust in the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 59.87% of the company's stock.
About Franklin BSP Realty Trust
(
Get Free Report)
Franklin BSP Realty Trust (NYSE: FBRT) is a real estate investment trust focused on commercial real estate finance. The company originates, acquires and manages a diversified portfolio of commercial real estate debt investments, with an emphasis on loans secured by properties in the United States.
Its investment activities primarily include senior mortgage loans, subordinate and mezzanine loans, preferred equity investments and other debt-related instruments. The portfolio is designed to provide financing to owners and operators of commercial properties across sectors such as multifamily, office, industrial, retail, hospitality and other specialty real estate.
Franklin BSP Realty Trust was formerly known as Benefit Street Partners Realty Trust and operates under the Franklin BSP platform.
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