Vanguard Group Inc. Sells 338,649 Shares of Franklin BSP Realty Trust, Inc. $FBRT

Key Points

• Vanguard Group Inc. reduced its holdings in Franklin BSP Realty Trust by 3.7% in the first quarter, lowering its ownership to approximately 10.66%, valued at $111.6 million.
• The company recently announced a quarterly dividend of $0.355, with a yield of 12.5% and a payout ratio of 144.90%.
• Franklin BSP Realty Trust's stock has a 52-week low of $9.79 and a high of $13.74, and it is currently trading at around $11.32.

Vanguard Group Inc. lowered its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,760,754 shares of the company's stock after selling 338,649 shares during the quarter. Vanguard Group Inc. owned 10.66% of Franklin BSP Realty Trust worth $111,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Franklin BSP Realty Trust in the fourth quarter worth $32,000. Central Pacific Bank Trust Division purchased a new position in shares of Franklin BSP Realty Trust in the first quarter worth $32,000. GAMMA Investing LLC raised its stake 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. raised its stake 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 purchasing an additional 2,926 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Franklin BSP Realty Trust in the first quarter worth $128,000. Hedge funds and other institutional investors own 59.87% of the company's stock.

Franklin BSP Realty Trust Stock Performance

Shares of FBRT traded down $0.01 during trading hours on Thursday, hitting $11.35. The stock had a trading volume of 239,437 shares, compared to its average volume of 580,862. The company has a debt-to-equity ratio of 3.21, a current ratio of 81.24 and a quick ratio of 81.24. Franklin BSP Realty Trust, Inc. has a 12 month low of $9.79 and a 12 month high of $13.74. The firm has a market capitalization of $933.47 million, a PE ratio of 11.58 and a beta of 1.01. The stock has a fifty day moving average price of $10.84 and a 200 day moving average price of $11.58.

Franklin BSP Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 30th were issued 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 12.5%. Franklin BSP Realty Trust's payout ratio is presently 144.90%.

Analyst Upgrades and Downgrades

Separately, Jones Trading decreased their price target 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 investment 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, the stock presently has a consensus rating of "Buy" and a consensus price target 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).