Franklin BSP Realty Trust (NYSE:FBRT) Lowered to "Neutral" Rating by BTIG Research

Key Points

• BTIG Research downgraded Franklin BSP Realty Trust (NYSE: FBRT) from “Buy” to “Neutral.” The broader analyst consensus is “Hold,” with an average price target of $11.50.
• FBRT shares opened at $7.62, near the lower end of their 12-month range of $7.34 to $11.43. The company has a market capitalization of approximately $632 million and a debt-to-equity ratio of 3.47.
• Franklin BSP Realty Trust reported quarterly EPS of $0.25, slightly above the $0.24 consensus estimate, but revenue of $66.47 million fell short of analysts’ $80.98 million forecast. Institutional investors and hedge funds own about 59.87% of the stock.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) was downgraded by equities researchers at BTIG Research from a "buy" rating to a "neutral" rating in a research report issued on Friday, MarketBeat Ratings reports.

A number of other analysts have also recently weighed in on the company. Zacks Research raised Franklin BSP Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. JonesTrading reissued a "buy" rating and set a $12.00 price objective on shares of Franklin BSP Realty Trust in a report on Friday, September 11th. Citizens Jmp reissued a "market outperform" rating and issued a $11.00 price objective on shares of Franklin BSP Realty Trust in a research note on Monday, July 6th. Finally, Weiss Ratings raised Franklin BSP Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.50.

Franklin BSP Realty Trust Stock Performance

Shares of FBRT opened at $7.62 on Friday. The firm has a market cap of $632.39 million, a price-to-earnings ratio of 17.31 and a beta of 0.93. The company's fifty day moving average is $8.03 and its 200-day moving average is $8.45. The company has a quick ratio of 96.80, a current ratio of 96.80 and a debt-to-equity ratio of 3.47. Franklin BSP Realty Trust has a 12 month low of $7.34 and a 12 month high of $11.43.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $66.47 million during the quarter, compared to analyst estimates of $80.98 million. Franklin BSP Realty Trust had a net margin of 20.49% and a return on equity of 5.82%. Equities analysts expect that Franklin BSP Realty Trust will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Several large investors have recently added to or reduced their stakes in FBRT. Bessemer Group Inc. lifted its holdings in shares of Franklin BSP Realty Trust by 96.3% during the 1st quarter. Bessemer Group Inc. now owns 5,471 shares of the company's stock worth $46,000 after acquiring an additional 2,684 shares during the period. KBC Group NV acquired a new position in Franklin BSP Realty Trust in the first quarter worth about $47,000. Ipsen Advisor Group LLC bought a new position in Franklin BSP Realty Trust during the first quarter worth about $88,000. PNC Financial Services Group Inc. boosted its holdings in Franklin BSP Realty Trust by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,054 shares of the company's stock valued at $94,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Franklin BSP Realty Trust in the 2nd quarter valued at approximately $103,000. Institutional investors and hedge funds own 59.87% of the company's stock.

Franklin BSP Realty Trust Company Profile

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 portfolio of commercial real estate debt investments, with an emphasis on floating-rate mortgage loans secured by institutional-quality properties.

Its investment activities may include senior mortgage loans, subordinate and mezzanine loans, bridge loans, preferred equity investments and other commercial real estate-related credit investments.

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