MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 88,378 Shares of Franklin BSP Realty Trust, Inc. $FBRT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Franklin BSP Realty Trust by 11.0%, acquiring an additional 88,378 shares, bringing its total holdings to approximately 890,249 shares worth $11.34 million.
• Royal Bank of Canada and Quarry LP are among several hedge funds that also enhanced their positions in Franklin BSP Realty Trust during the first quarter, indicating increasing institutional interest in the company.
• Analysts have set a new target price for Franklin BSP Realty Trust at $13.00 while maintaining a "buy" rating, reflecting ongoing positive sentiment despite the recent downgrade from a higher target price.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,249 shares of the company's stock after acquiring an additional 88,378 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.08% of Franklin BSP Realty Trust worth $11,342,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Franklin BSP Realty Trust by 3.6% during the first quarter. Royal Bank of Canada now owns 39,303 shares of the company's stock valued at $502,000 after acquiring an additional 1,378 shares during the period. Quarry LP boosted its holdings in Franklin BSP Realty Trust by 120.5% during the first quarter. Quarry LP now owns 5,623 shares of the company's stock valued at $72,000 after acquiring an additional 3,073 shares during the period. Tortoise Investment Management LLC bought a new stake in Franklin BSP Realty Trust during the first quarter valued at about $39,000. Gamco Investors INC. ET AL boosted its holdings in Franklin BSP Realty Trust by 17.5% during the first quarter. Gamco Investors INC. ET AL now owns 93,585 shares of the company's stock valued at $1,192,000 after acquiring an additional 13,941 shares during the period. Finally, Gabelli Funds LLC lifted its stake in shares of Franklin BSP Realty Trust by 51.6% in the first quarter. Gabelli Funds LLC now owns 280,351 shares of the company's stock valued at $3,572,000 after buying an additional 95,450 shares during the period. 59.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jones Trading reduced their target price on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.88.

Franklin BSP Realty Trust Stock Performance

NYSE:FBRT opened at $11.62 on Wednesday. Franklin BSP Realty Trust, Inc. has a 12-month low of $9.79 and a 12-month high of $13.74. The company has a quick ratio of 81.24, a current ratio of 81.24 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $956.09 million, a PE ratio of 11.86 and a beta of 1.04. The firm has a 50-day moving average price of $10.95 and a 200 day moving average price of $11.48.

Franklin BSP Realty Trust 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).

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