Franklin BSP Realty Trust (NYSE:FBRT) Hits New 1-Year Low - Here's Why

Key Points

• Franklin BSP Realty Trust's shares reached a new 52-week low of $9.96, with the stock trading at $10.06 on Thursday and a volume of 827,566 shares.
• Despite the stock's recent decline, analysts maintain a consensus rating of "Buy" with a target price of $15.13, indicating potential upside for investors.
• The company recently announced a quarterly dividend of $0.355, yielding 14.12%, although its payout ratio stands at 208.82%, raising concerns about sustainability.

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $9.96 and last traded at $10.06, with a volume of 827566 shares traded. The stock had previously closed at $10.22.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jones Trading dropped their target price 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. JMP Securities reaffirmed 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. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.13.

Franklin BSP Realty Trust Price Performance

The company has a debt-to-equity ratio of 3.21, a current ratio of 81.24 and a quick ratio of 81.24. The stock has a market capitalization of $889.86 million, a price-to-earnings ratio of 11.04 and a beta of 1.01. The stock's 50 day simple moving average is $10.80 and its 200-day simple moving average is $11.78.

Franklin BSP Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date was Monday, June 30th. Franklin BSP Realty Trust's payout ratio is presently 144.90%.

Institutional Trading of Franklin BSP Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its stake in Franklin BSP Realty Trust by 126.7% during the 2nd quarter. CWM LLC now owns 2,428 shares of the company's stock valued at $26,000 after purchasing an additional 1,357 shares during the last quarter. Quarry LP bought a new stake in Franklin BSP Realty Trust in the 4th quarter valued at $32,000. Central Pacific Bank Trust Division bought a new stake in Franklin BSP Realty Trust in the 1st quarter valued at $32,000. AlphaQuest LLC bought a new stake in Franklin BSP Realty Trust in the 1st quarter valued at $32,000. Finally, Tortoise Investment Management LLC bought a new stake in Franklin BSP Realty Trust in the 1st quarter valued at $39,000. 59.87% of the stock is currently owned by institutional investors and hedge funds.

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).