Victory Capital Management Inc. Acquires 68,929 Shares of 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. increased its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Free Report) by 477.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,357 shares of the company's stock after buying an additional 68,929 shares during the period. Victory Capital Management Inc. owned 0.10% of Franklin BSP Realty Trust worth $1,062,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FBRT. Strong Tower Advisory Services lifted its holdings in shares of Franklin BSP Realty Trust by 16.3% during the 1st quarter. Strong Tower Advisory Services now owns 1,345,488 shares of the company's stock worth $17,142,000 after acquiring an additional 188,377 shares during the last quarter. Invesco Ltd. raised its position in Franklin BSP Realty Trust by 7.1% in the 4th quarter. Invesco Ltd. now owns 1,137,128 shares of the company's stock worth $14,260,000 after purchasing an additional 75,240 shares during the period. Northern Trust Corp raised its position in Franklin BSP Realty Trust by 17.5% in the 4th quarter. Northern Trust Corp now owns 958,564 shares of the company's stock worth $12,020,000 after purchasing an additional 142,437 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Franklin BSP Realty Trust by 10.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 801,871 shares of the company's stock worth $10,055,000 after purchasing an additional 72,621 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Franklin BSP Realty Trust by 24.2% in the 1st quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company's stock worth $9,103,000 after purchasing an additional 139,417 shares during the period. 59.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FBRT. JMP Securities reiterated a "market outperform" rating and issued a $15.00 target price on shares of Franklin BSP Realty Trust in a research report on Tuesday, April 29th. Jones Trading decreased their price objective on shares of Franklin BSP Realty Trust from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Franklin BSP Realty Trust presently has a consensus rating of "Buy" and an average target price of $15.13.

Franklin BSP Realty Trust Trading Up 3.6%

Shares of FBRT traded up $0.36 during trading hours on Friday, reaching $10.46. 1,250,738 shares of the company traded hands, compared to its average volume of 581,662. The company's fifty day moving average price is $10.80 and its two-hundred day moving average price is $11.79. The company has a market capitalization of $860.65 million, a price-to-earnings ratio of 10.67 and a beta of 1.01. The company has a quick ratio of 77.38, a current ratio of 77.38 and a debt-to-equity ratio of 3.19. Franklin BSP Realty Trust, Inc. has a 12 month low of $9.79 and a 12 month high of $13.74.

Franklin BSP Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 13.6%. Franklin BSP Realty Trust's payout ratio is presently 144.90%.

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).