Condor Capital Management Has $4.22 Million Holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Key Points

• Condor Capital Management has increased its stake in Franklin BSP Realty Trust by 9.7%, now holding 331,568 shares worth approximately $4.22 million.
• Franklin BSP Realty Trust recently announced a quarterly dividend of $0.355 per share, equating to an annualized yield of 13.1%.
• The stock has an average analyst rating of "Buy" with a price target of around $14.88, despite a recent downgrade from Jones Trading, reducing their target to $13.00.

Condor Capital Management boosted its stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 331,568 shares of the company's stock after buying an additional 29,376 shares during the period. Condor Capital Management owned approximately 0.40% of Franklin BSP Realty Trust worth $4,224,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Franklin BSP Realty Trust in the fourth quarter valued at approximately $32,000. Central Pacific Bank Trust Division acquired a new stake in shares of Franklin BSP Realty Trust in the first quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in shares of Franklin BSP Realty Trust by 1,683.5% in the first quarter. GAMMA Investing LLC now owns 4,637 shares of the company's stock valued at $59,000 after purchasing an additional 4,377 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Franklin BSP Realty Trust by 138.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company's stock valued at $64,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Franklin BSP Realty Trust in the first quarter valued at approximately $128,000. 59.87% of the stock is currently owned by institutional investors and hedge funds.

Franklin BSP Realty Trust Price Performance

NYSE FBRT traded up $0.19 during trading on Tuesday, hitting $10.97. 426,277 shares of the company's stock were exchanged, compared to its average volume of 528,202. The stock's 50 day moving average price is $10.78 and its two-hundred day moving average price is $11.71. Franklin BSP Realty Trust, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $13.74. The company has a current ratio of 81.24, a quick ratio of 81.24 and a debt-to-equity ratio of 3.21. The company has a market cap of $902.94 million, a PE ratio of 11.20 and a beta of 1.01.

Franklin BSP Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were paid a $0.355 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 12.9%. Franklin BSP Realty Trust's dividend payout ratio is currently 144.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jones Trading lowered their target price on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. JMP Securities restated a "market outperform" rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a report on Tuesday, April 29th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Franklin BSP Realty Trust has an average rating of "Buy" and a consensus target price of $14.88.

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).