Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Declares $0.36 Quarterly Dividend

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) announced a quarterly dividend on Thursday, June 12th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.355 per share on Thursday, July 10th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 13.12%. The ex-dividend date of this dividend is Monday, June 30th.

Franklin BSP Realty Trust has a dividend payout ratio of 103.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Franklin BSP Realty Trust to earn $1.49 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 95.3%.

Franklin BSP Realty Trust Price Performance

Shares of NYSE:FBRT traded down $0.28 during mid-day trading on Friday, reaching $10.82. The stock had a trading volume of 649,824 shares, compared to its average volume of 407,106. Franklin BSP Realty Trust has a 1 year low of $10.50 and a 1 year high of $14.12. The company has a current ratio of 84.89, a quick ratio of 90.45 and a debt-to-equity ratio of 3.42. The business's 50 day moving average price is $11.21 and its 200 day moving average price is $12.27. The company has a market cap of $889.57 million, a P/E ratio of 13.04 and a beta of 1.05.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FBRT shares. Citigroup restated an "outperform" rating on shares of Franklin BSP Realty Trust in a research report on Wednesday, March 12th. 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. Finally, Jones Trading dropped their price objective on Franklin BSP Realty Trust from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.30.

Institutional Trading of Franklin BSP Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FBRT. Royal Bank of Canada raised its stake in Franklin BSP Realty Trust by 3.6% in the 1st quarter. Royal Bank of Canada now owns 39,303 shares of the company's stock worth $502,000 after acquiring an additional 1,378 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Franklin BSP Realty Trust by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,474 shares of the company's stock valued at $1,955,000 after acquiring an additional 4,391 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Franklin BSP Realty Trust during the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 59.87% of the company's stock.

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).