Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Shares Sold by Financial Management Network Inc.

Key Points

• Financial Management Network Inc. reduced its stake in Franklin BSP Realty Trust by 18.6% during the first quarter, holding 104,777 shares worth approximately $1.34 million.
• Several institutional investors, including GAMMA Investing LLC and Deutsche Bank AG, significantly increased their holdings in Franklin BSP Realty Trust in recent quarters, reflecting growing institutional interest.
• The company declared a quarterly dividend of $0.355 per share, resulting in an annualized dividend yield of 13.61% despite a high dividend payout ratio of 208.82%.

Financial Management Network Inc. lowered its position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,777 shares of the company's stock after selling 23,970 shares during the quarter. Financial Management Network Inc. owned about 0.13% of Franklin BSP Realty Trust worth $1,335,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Franklin BSP Realty Trust by 24.2% during the first quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company's stock worth $9,103,000 after buying an additional 139,417 shares during the period. GAMMA Investing LLC increased its stake in 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. Deutsche Bank AG increased its stake in Franklin BSP Realty Trust by 51.0% in the fourth quarter. Deutsche Bank AG now owns 74,962 shares of the company's stock valued at $940,000 after purchasing an additional 25,322 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Franklin BSP Realty Trust by 20.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 149,083 shares of the company's stock valued at $1,870,000 after purchasing an additional 24,935 shares during the last quarter. Finally, Strong Tower Advisory Services increased its stake in Franklin BSP Realty Trust by 16.3% in the first quarter. Strong Tower Advisory Services now owns 1,345,488 shares of the company's stock valued at $17,142,000 after purchasing an additional 188,377 shares during the last quarter. Hedge funds and other institutional investors own 59.87% of the company's stock.

Franklin BSP Realty Trust Stock Performance

Shares of NYSE FBRT traded up $0.07 during mid-day trading on Thursday, hitting $10.15. 646,384 shares of the company were exchanged, compared to its average volume of 513,249. Franklin BSP Realty Trust, Inc. has a 1-year low of $9.79 and a 1-year high of $14.10. The company has a quick ratio of 77.38, a current ratio of 77.38 and a debt-to-equity ratio of 3.19. The stock has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $11.82. The firm has a market cap of $834.02 million, a price-to-earnings ratio of 14.93 and a beta of 1.04.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 14.00%. The ex-dividend date was Monday, June 30th. Franklin BSP Realty Trust's dividend payout ratio (DPR) is currently 208.82%.

Analysts Set New Price Targets

FBRT has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a research report on Tuesday, April 29th. Jones Trading lowered their target price on shares of Franklin BSP Realty Trust from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $15.13.

About Franklin BSP Realty Trust

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).