Nuveen LLC Takes Position in Franklin BSP Realty Trust, Inc. $FBRT

Key Points

• Nuveen LLC has acquired a new position in Franklin BSP Realty Trust, purchasing 199,507 shares valued at approximately $2.54 million, representing about 0.24% ownership of the company.
• Franklin BSP Realty Trust's latest quarterly dividend announcement includes a payment of $0.355 per share, resulting in an annualized yield of 12.3%.
• Two analysts have given Franklin BSP Realty Trust a strong buy rating, while the average consensus price target for the stock is $14.88, down from a previous target of $14.00.

Nuveen LLC bought a new stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 199,507 shares of the company's stock, valued at approximately $2,542,000. Nuveen LLC owned 0.24% of Franklin BSP Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FBRT. Quarry LP purchased a new stake in shares of Franklin BSP Realty Trust during the fourth quarter worth about $32,000. Central Pacific Bank Trust Division bought a new position in shares of Franklin BSP Realty Trust during the 1st quarter valued at about $32,000. GAMMA Investing LLC increased 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 worth $59,000 after purchasing an additional 4,377 shares during the last quarter. PNC Financial Services Group Inc. lifted its position 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 worth $64,000 after buying an additional 2,926 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Franklin BSP Realty Trust during the first quarter valued at approximately $128,000. 59.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jones Trading lowered their price target on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.88.

Franklin BSP Realty Trust Stock Performance

Shares of NYSE:FBRT traded up $0.16 on Wednesday, hitting $11.52. 105,851 shares of the company were exchanged, compared to its average volume of 515,254. Franklin BSP Realty Trust, Inc. has a 1-year low of $9.79 and a 1-year high of $13.74. The firm has a market capitalization of $947.45 million, a P/E ratio of 11.75 and a beta of 1.04. 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 stock's 50 day moving average price is $10.88 and its 200 day moving average price is $11.54.

Franklin BSP Realty Trust Announces Dividend

The firm 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 was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 12.3%. Franklin BSP Realty Trust's dividend payout ratio is presently 144.90%.

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).