Franklin BSP Realty Trust (NYSE:FBRT) Releases Quarterly Earnings Results

Key Points

• Franklin BSP Realty Trust missed quarterly expectations: The company reported a loss of $0.02 per share versus consensus expectations for $0.25 in EPS, while revenue of $22.11 million fell well short of the $72.54 million estimate.
• Shares declined to $6.32 during Wednesday trading, near the company’s 52-week low of $5.90. The stock has a market capitalization of approximately $524 million.
• The company paid a quarterly dividend of $0.20 per share, representing an annualized dividend of $0.80 and a 12.7% yield. Analysts have a consensus “Hold” rating and an average price target of $11.00.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.27), FiscalAI reports. The business had revenue of $22.11 million for the quarter, compared to the consensus estimate of $72.54 million. Franklin BSP Realty Trust had a return on equity of 5.82% and a net margin of 20.49%.

Franklin BSP Realty Trust Price Performance

NYSE:FBRT traded down $0.10 during trading hours on Wednesday, reaching $6.32. 1,285,111 shares of the company were exchanged, compared to its average volume of 1,276,816. The company has a market capitalization of $524.43 million, a P/E ratio of 14.35 and a beta of 0.97. Franklin BSP Realty Trust has a 1-year low of $5.90 and a 1-year high of $10.82. The company has a debt-to-equity ratio of 3.47, a current ratio of 96.80 and a quick ratio of 96.80. The business has a 50 day moving average of $7.24 and a 200 day moving average of $8.42.

Franklin BSP Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 dividend payout ratio is currently 181.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FBRT shares. JonesTrading reiterated a "buy" rating and set a $12.00 price objective on shares of Franklin BSP Realty Trust in a report on Friday, September 11th. BTIG Research downgraded Franklin BSP Realty Trust from a "buy" rating to a "neutral" rating in a research report on Friday, September 18th. Zacks Research upgraded Franklin BSP Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Citigroup reissued a "market outperform" rating on shares of Franklin BSP Realty Trust in a research report on Wednesday, September 23rd. Finally, UBS Group set a $10.00 price objective on Franklin BSP Realty Trust in a research note on Wednesday, September 23rd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.00.

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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