1832 Asset Management L.P. Purchases Shares of 450,000 Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

1832 Asset Management L.P. purchased a new stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 450,000 shares of the company’s stock, valued at approximately $6,012,000. 1832 Asset Management L.P. owned about 0.55% of Franklin BSP Realty Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in shares of Franklin BSP Realty Trust by 374.2% in the first quarter. Global Retirement Partners LLC now owns 2,205 shares of the company’s stock valued at $29,000 after acquiring an additional 1,740 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of Franklin BSP Realty Trust in the first quarter valued at approximately $46,000. SG Americas Securities LLC bought a new stake in shares of Franklin BSP Realty Trust in the first quarter valued at approximately $136,000. Tyche Wealth Partners LLC bought a new stake in shares of Franklin BSP Realty Trust in the fourth quarter valued at approximately $162,000. Finally, Sollinda Capital Management LLC bought a new stake in shares of Franklin BSP Realty Trust in the fourth quarter valued at approximately $176,000. Institutional investors and hedge funds own 59.87% of the company’s stock.

Franklin BSP Realty Trust Stock Performance

FBRT stock traded up $0.14 during midday trading on Friday, hitting $13.85. The stock had a trading volume of 223,869 shares, compared to its average volume of 362,290. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.44. Franklin BSP Realty Trust, Inc. has a 52 week low of $11.99 and a 52 week high of $14.66. The stock has a 50-day simple moving average of $12.91 and a 200 day simple moving average of $12.91. The company has a current ratio of 88.39, a quick ratio of 88.39 and a debt-to-equity ratio of 3.21.

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

Franklin BSP Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a dividend of $0.355 per share. The ex-dividend date was Friday, June 28th. This represents a $1.42 annualized dividend and a yield of 10.25%. Franklin BSP Realty Trust’s dividend payout ratio is currently 107.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James raised Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Friday, April 12th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 target price on shares of Franklin BSP Realty Trust in a research report on Friday, July 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Franklin BSP Realty Trust in a research report on Thursday, June 27th.

Franklin BSP Realty Trust 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).