Public Sector Pension Investment Board Boosts Stock Position in Franklin BSP Realty Trust, Inc. $FBRT

Key Points

• The Public Sector Pension Investment Board increased its stake in Franklin BSP Realty Trust by 29.2%, owning 263,437 shares valued at approximately $3.36 million.
• Franklin BSP Realty Trust's recent quarterly dividend was $0.355 per share, resulting in an annualized yield of 12.9% and a payout ratio of 144.90%.
• Currently, the company holds a consensus rating of "Buy" from analysts, with a projected price target of $14.88.

Public Sector Pension Investment Board boosted its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 29.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 263,437 shares of the company's stock after purchasing an additional 59,525 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Franklin BSP Realty Trust worth $3,356,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FBRT. Savvy Advisors Inc. acquired a new stake in Franklin BSP Realty Trust in the first quarter valued at approximately $377,000. Bank of New York Mellon Corp grew its stake in Franklin BSP Realty Trust by 24.2% in the first quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company's stock valued at $9,103,000 after acquiring an additional 139,417 shares during the period. GAMMA Investing LLC grew 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 acquiring an additional 4,377 shares during the period. Deutsche Bank AG grew 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 acquiring an additional 25,322 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 24,935 shares during the period. 59.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on FBRT shares. JMP Securities reissued a "market outperform" rating and issued a $15.00 price objective on shares of Franklin BSP Realty Trust in a research note on Tuesday, April 29th. Jones Trading reduced their price objective on 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 analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, Franklin BSP Realty Trust has an average rating of "Buy" and a consensus price target of $14.88.

Franklin BSP Realty Trust Stock Up 2.6%

Shares of NYSE:FBRT traded up $0.2820 during mid-day trading on Friday, hitting $11.3220. 665,270 shares of the company traded hands, compared to its average volume of 642,617. The stock has a market cap of $931.52 million, a P/E ratio of 11.55 and a beta of 1.01. The company has a current ratio of 81.24, a quick ratio of 81.24 and a debt-to-equity ratio of 3.21. Franklin BSP Realty Trust, Inc. has a 12-month low of $9.79 and a 12-month high of $13.74. The stock has a 50-day moving average price of $10.80 and a two-hundred day moving average price of $11.62.

Franklin BSP Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 30th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 12.5%. Franklin BSP Realty Trust's 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).