Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Short Interest Up 26.4% in March

Key Points

• Short interest climbed 26.4% in March to 6,171,827 shares (about 7.7% of shares sold short), leaving a days-to-cover ratio of 4.9.
• Dividend cut: the company declared a quarterly dividend of $0.20 ($0.80 annualized) for a 9.4% yield, with a payout ratio of 125%.
• Analyst consensus is a "Moderate Buy" with an average target price of $13.50, compared with the stock trading near $8.48.

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 6,171,827 shares, an increase of 26.4% from the February 26th total of 4,883,041 shares. Approximately 7.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,269,485 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arlington Trust Co LLC purchased a new stake in Franklin BSP Realty Trust during the fourth quarter valued at about $40,000. Assetmark Inc. bought a new stake in shares of Franklin BSP Realty Trust in the fourth quarter valued at approximately $40,000. Danske Bank A S bought a new stake in shares of Franklin BSP Realty Trust in the third quarter valued at approximately $45,000. Transce3nd LLC purchased a new stake in shares of Franklin BSP Realty Trust during the 2nd quarter valued at approximately $46,000. Finally, State of Wyoming purchased a new stake in shares of Franklin BSP Realty Trust during the 2nd quarter valued at approximately $47,000. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FBRT shares. Zacks Research raised Franklin BSP Realty Trust from a "strong sell" rating to a "hold" rating in a report on Thursday, February 12th. JonesTrading dropped their target price on shares of Franklin BSP Realty Trust from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Wall Street Zen raised shares of Franklin BSP Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Franklin BSP Realty Trust in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.50.

Franklin BSP Realty Trust Trading Up 1.5%

FBRT stock traded up $0.13 during mid-day trading on Monday, reaching $8.48. The company's stock had a trading volume of 577,880 shares, compared to its average volume of 1,097,284. The company has a market cap of $686.19 million, a price-to-earnings ratio of 13.27 and a beta of 0.99. Franklin BSP Realty Trust has a 12 month low of $8.30 and a 12 month high of $12.86. The company has a current ratio of 70.78, a quick ratio of 70.78 and a debt-to-equity ratio of 3.33. The business's 50 day moving average price is $9.45 and its 200 day moving average price is $10.14.

Franklin BSP Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 9.4%. Franklin BSP Realty Trust's payout ratio is 125.00%.

Franklin BSP Realty Trust Company Profile

Franklin BSP Realty Trust, Inc NYSE: FBRT is a publicly traded real estate investment trust sponsored by an affiliate of Franklin Square Capital Partners. The company focuses on acquiring, owning and managing single-tenant net leased commercial properties across the United States. Its portfolio spans retail, office, industrial and other property types, with leases structured to shift most property‐level responsibilities—such as maintenance, property taxes and insurance—to the tenants.

By concentrating on net lease investments, Franklin BSP Realty Trust aims to generate stable and predictable rental income streams.

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