Franklin BSP Realty Trust (NYSE:FBRT) Hits New 12-Month Low - Here's What Happened

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $10.45 and last traded at $10.46, with a volume of 290127 shares. The stock had previously closed at $10.71.

Analyst Ratings Changes

A number of research firms recently issued reports on FBRT. Jones Trading lowered their target price on Franklin BSP Realty Trust from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. JMP Securities reaffirmed a "market outperform" rating and set a $15.00 price target on shares of Franklin BSP Realty Trust in a research note on Tuesday, April 29th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.13.

Franklin BSP Realty Trust Stock Down 2.2%

The firm has a fifty day simple moving average of $10.98 and a 200-day simple moving average of $11.92. The firm has a market cap of $860.74 million, a price-to-earnings ratio of 15.40 and a beta of 1.04. The company has a debt-to-equity ratio of 3.19, a quick ratio of 77.38 and a current ratio of 77.38.

Franklin BSP Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 13.56%. The ex-dividend date of this dividend was Monday, June 30th. Franklin BSP Realty Trust's dividend payout ratio is currently 208.82%.

Institutional Investors Weigh In On Franklin BSP Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers raised its stake in Franklin BSP Realty Trust by 0.9% in the first quarter. Cetera Investment Advisers now owns 120,972 shares of the company's stock valued at $1,541,000 after purchasing an additional 1,114 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in Franklin BSP Realty Trust by 9.7% in the first quarter. Coppell Advisory Solutions LLC now owns 12,860 shares of the company's stock valued at $149,000 after purchasing an additional 1,138 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Franklin BSP Realty Trust by 6.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,877 shares of the company's stock valued at $262,000 after acquiring an additional 1,238 shares during the last quarter. Royal Bank of Canada grew its position in Franklin BSP Realty Trust by 3.6% in the first quarter. Royal Bank of Canada now owns 39,303 shares of the company's stock valued at $502,000 after acquiring an additional 1,378 shares during the last quarter. Finally, Shorepoint Capital Partners LLC grew its position in Franklin BSP Realty Trust by 2.8% in the fourth quarter. Shorepoint Capital Partners LLC now owns 51,400 shares of the company's stock valued at $645,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 59.87% of the company's stock.

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).