Franklin BSP Realty Trust (NYSE:FBRT) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Franklin BSP Realty Trust (NYSE: FBRT) from “Hold” to “Sell.” Despite mixed analyst opinions, the overall consensus rating remains “Hold,” with an average price target of $10.75.
• The company reported quarterly adjusted earnings of -$0.02 per share, missing the $0.25 consensus estimate, and revenue of $22.11 million versus expectations of $72.54 million.
• Shares opened at $6.20, near the stock’s 12-month low of $5.90. CEO Richard J. Byrne recently bought 162,600 shares at an average price of $6.14.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on FBRT. UBS Group set a $10.00 price objective on Franklin BSP Realty Trust in a research note on Wednesday, September 23rd. BTIG Research lowered shares of Franklin BSP Realty Trust from a "buy" rating to a "neutral" rating in a report on Friday, September 18th. Zacks Research downgraded Franklin BSP Realty Trust from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 28th. B. Riley Financial dropped their price objective on Franklin BSP Realty Trust from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, November 2nd. Finally, Citigroup restated a "market outperform" rating on shares of Franklin BSP Realty Trust in a research report on Wednesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Franklin BSP Realty Trust has a consensus rating of "Hold" and an average target price of $10.75.

Franklin BSP Realty Trust Stock Down 1.2%

Shares of NYSE FBRT opened at $6.20 on Friday. The firm's 50-day moving average price is $6.91 and its 200-day moving average price is $8.26. Franklin BSP Realty Trust has a 12-month low of $5.90 and a 12-month high of $10.82. The stock has a market capitalization of $469.38 million, a price-to-earnings ratio of -77.53 and a beta of 1.10. The company has a current ratio of 83.00, a quick ratio of 83.00 and a debt-to-equity ratio of 3.60.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.02) earnings per share 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 analysts' expectations of $72.54 million. On average, equities research analysts anticipate that Franklin BSP Realty Trust will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Franklin BSP Realty Trust

In other news, CEO Richard J. Byrne purchased 162,600 shares of the business's stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $6.14 per share, for a total transaction of $998,364.00. Following the purchase, the chief executive officer directly owned 162,600 shares in the company, valued at $998,364. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 164,664 shares of company stock worth $1,024,104 in the last ninety days. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FBRT. Money Concepts Capital Corp acquired a new stake in shares of Franklin BSP Realty Trust in the third quarter worth $112,000. Ethic Inc. bought a new position in Franklin BSP Realty Trust in the 3rd quarter worth approximately $80,000. State of Wyoming bought a new position in Franklin BSP Realty Trust during the 3rd quarter worth about $54,000. Apollon Wealth Management LLC acquired a new position in Franklin BSP Realty Trust in the 3rd quarter valued at about $92,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Franklin BSP Realty Trust during the 3rd quarter valued at approximately $68,000. Hedge funds and other institutional investors own 59.87% of the company's stock.

About Franklin BSP Realty Trust

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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