Victory Capital Management Inc. Increases Stock Position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Key Points

• Victory Capital Management Inc. increased its stake in Franklin BSP Realty Trust by 477.7% during the first quarter, now holding approximately 83,357 shares valued at $1.06 million.
• Franklin BSP Realty Trust announced a quarterly dividend of $0.355, leading to an annualized dividend yield of 14.1%, although its dividend payout ratio is notably high at 208.82%.
• Analysts have given the stock an average target price of $15.13 with a mix of buy ratings, indicating strong market confidence, despite recent adjustments from some firms.

Victory Capital Management Inc. boosted its stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 477.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,357 shares of the company's stock after purchasing an additional 68,929 shares during the period. Victory Capital Management Inc. owned about 0.10% of Franklin BSP Realty Trust worth $1,062,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FBRT. Gratia Capital LLC grew its position in shares of Franklin BSP Realty Trust by 110.0% during the 4th quarter. Gratia Capital LLC now owns 622,622 shares of the company's stock valued at $7,808,000 after purchasing an additional 326,122 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of Franklin BSP Realty Trust by 16.3% during the first quarter. Strong Tower Advisory Services now owns 1,345,488 shares of the company's stock valued at $17,142,000 after buying an additional 188,377 shares during the period. Balyasny Asset Management L.P. grew its holdings in Franklin BSP Realty Trust by 84.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 362,451 shares of the company's stock worth $4,545,000 after purchasing an additional 165,981 shares during the period. Northern Trust Corp lifted its stake in shares of Franklin BSP Realty Trust by 17.5% in the fourth quarter. Northern Trust Corp now owns 958,564 shares of the company's stock worth $12,020,000 after buying an additional 142,437 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 worth $9,103,000 after buying an additional 139,417 shares in the last quarter. 59.87% of the stock is owned by institutional investors.

Franklin BSP Realty Trust Stock Performance

NYSE FBRT traded up $0.35 on Monday, hitting $10.83. 399,365 shares of the company's stock traded hands, compared to its average volume of 520,559. The firm's 50-day moving average price is $10.80 and its two-hundred day moving average price is $11.78. 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 $890.68 million, a PE ratio of 11.05 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 13.1%. The ex-dividend date of this dividend was Monday, June 30th. Franklin BSP Realty Trust's dividend payout ratio (DPR) is 144.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JMP Securities restated a "market outperform" rating and set a $15.00 price objective 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 for the company in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $15.13.

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).