Bank of New York Mellon Corp Raises Stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Bank of New York Mellon Corp raised its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 24.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 714,485 shares of the company's stock after purchasing an additional 139,417 shares during the quarter. Bank of New York Mellon Corp owned 0.85% of Franklin BSP Realty Trust worth $9,103,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in Franklin BSP Realty Trust during the 4th quarter worth about $32,000. Central Pacific Bank Trust Division bought a new position in Franklin BSP Realty Trust during the 1st quarter worth about $32,000. GAMMA Investing LLC grew its holdings in Franklin BSP Realty Trust by 1,683.5% during the 1st quarter. GAMMA Investing LLC now owns 4,637 shares of the company's stock worth $59,000 after acquiring an additional 4,377 shares in the last quarter. LaSalle St. Investment Advisors LLC bought a new position in Franklin BSP Realty Trust during the 4th quarter worth about $133,000. Finally, PharVision Advisers LLC bought a new position in shares of Franklin BSP Realty Trust during the 4th quarter worth approximately $135,000. Hedge funds and other institutional investors own 59.87% of the company's stock.

Franklin BSP Realty Trust Price Performance

Shares of NYSE FBRT opened at $10.41 on Tuesday. Franklin BSP Realty Trust, Inc. has a twelve month low of $10.38 and a twelve month high of $14.12. The company has a current ratio of 77.38, a quick ratio of 77.38 and a debt-to-equity ratio of 3.19. The stock has a 50 day moving average of $10.98 and a two-hundred day moving average of $11.92. The stock has a market cap of $855.40 million, a P/E ratio of 15.30 and a beta of 1.04.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 13.65%. The ex-dividend date was Monday, June 30th. Franklin BSP Realty Trust's payout ratio is 208.82%.

Wall Street Analysts Forecast Growth

FBRT has been the subject of a number of recent research reports. JMP Securities reissued a "market outperform" rating and set a $15.00 price target on shares of Franklin BSP Realty Trust in a research report on Tuesday, April 29th. Jones Trading dropped their price objective on shares of Franklin BSP Realty Trust from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Franklin BSP Realty Trust has a consensus rating of "Buy" and an average price target of $15.13.

Franklin BSP Realty Trust Company 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).

Want to see what other hedge funds are holding FBRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.