Franklin BSP Realty Trust (NYSE:FBRT) Shares Gap Down - Here's What Happened

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.64, but opened at $10.80. Franklin BSP Realty Trust shares last traded at $11.58, with a volume of 128,818 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on FBRT shares. Citigroup reissued an "outperform" rating on shares of Franklin BSP Realty Trust in a research note on Wednesday, March 12th. JMP Securities restated a "market outperform" rating and issued a $15.00 price target on shares of Franklin BSP Realty Trust in a research note on Tuesday, April 29th. B. Riley upgraded Franklin BSP Realty Trust to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Jones Trading cut their target price 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 equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.30.

Franklin BSP Realty Trust Stock Up 0.9 %

The company's 50 day moving average price is $12.31 and its two-hundred day moving average price is $12.67. 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 stock has a market cap of $957.98 million, a P/E ratio of 13.80 and a beta of 1.14.

Franklin BSP Realty Trust (NYSE:FBRT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Franklin BSP Realty Trust had a return on equity of 8.17% and a net margin of 45.56%. The firm had revenue of $55.95 million during the quarter, compared to analyst estimates of $49.28 million. Equities analysts forecast that Franklin BSP Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Franklin BSP Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 12.40%. The ex-dividend date was Monday, March 31st. Franklin BSP Realty Trust's dividend payout ratio is currently 208.82%.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Franklin BSP Realty Trust by 477.7% during the 1st quarter. Victory Capital Management Inc. now owns 83,357 shares of the company's stock valued at $1,062,000 after buying an additional 68,929 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Franklin BSP Realty Trust by 5.8% during the first quarter. Apollon Wealth Management LLC now owns 27,237 shares of the company's stock valued at $347,000 after acquiring an additional 1,496 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Franklin BSP Realty Trust in the 1st quarter valued at $128,000. Penserra Capital Management LLC lifted its stake in Franklin BSP Realty Trust by 21.1% in the 1st quarter. Penserra Capital Management LLC now owns 85,935 shares of the company's stock worth $1,094,000 after purchasing an additional 14,950 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Franklin BSP Realty Trust by 24.2% during the 1st quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company's stock valued at $9,103,000 after purchasing an additional 139,417 shares during the last quarter. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

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).