Franklin BSP Realty Trust (NYSE:FBRT) Given New $13.00 Price Target at Jones Trading

Key Points

• Franklin BSP Realty Trust had its price target reduced from $14.00 to $13.00 by Jones Trading, indicating a potential upside of approximately 20% from the stock's previous close.
• JMP Securities maintains a "market outperform" rating and set a target price of $15.00, with the stock currently holding a consensus rating of "Buy."
• Institutional investors own 59.87% of Franklin BSP Realty Trust, with several firms, including Strong Tower Advisory Services and Charles Schwab, increasing their holdings recently.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) had its price target reduced by equities research analysts at Jones Trading from $14.00 to $13.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jones Trading's price target indicates a potential upside of 19.98% from the stock's previous close.

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a report on Tuesday, April 29th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Franklin BSP Realty Trust currently has a consensus rating of "Buy" and a consensus target price of $14.88.

Franklin BSP Realty Trust Price Performance

NYSE FBRT traded down $0.06 on Wednesday, hitting $10.84. The stock had a trading volume of 355,616 shares, compared to its average volume of 527,981. The firm has a 50-day moving average of $10.80 and a 200-day moving average of $11.76. The company has a debt-to-equity ratio of 3.21, a quick ratio of 81.24 and a current ratio of 81.24. The company has a market capitalization of $891.50 million, a price-to-earnings ratio of 11.05 and a beta of 1.01. Franklin BSP Realty Trust has a 52-week low of $9.79 and a 52-week high of $13.74.

Institutional Trading of Franklin BSP Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Strong Tower Advisory Services lifted its holdings in Franklin BSP Realty Trust by 4.7% in the second quarter. Strong Tower Advisory Services now owns 1,408,626 shares of the company's stock worth $15,058,000 after buying an additional 63,138 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Franklin BSP Realty Trust by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,244,760 shares of the company's stock worth $15,858,000 after buying an additional 81,783 shares during the period. Invesco Ltd. lifted its holdings in Franklin BSP Realty Trust by 7.1% in the fourth quarter. Invesco Ltd. now owns 1,137,128 shares of the company's stock worth $14,260,000 after buying an additional 75,240 shares during the period. Northern Trust Corp lifted its position in Franklin BSP Realty Trust by 17.5% during the 4th quarter. Northern Trust Corp now owns 958,564 shares of the company's stock valued at $12,020,000 after acquiring an additional 142,437 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Franklin BSP Realty Trust by 11.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 890,249 shares of the company's stock worth $11,342,000 after purchasing an additional 88,378 shares during the period. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

About Franklin BSP Realty Trust

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.