Franklin BSP Realty Trust (NYSE:FBRT) Reaches New 12-Month Low – Here’s What Happened

Franklin BSP Realty Trust, Inc. (NYSE:FBRT)’s share price reached a new 52-week low on Monday . The stock traded as low as $11.97 and last traded at $12.05, with a volume of 42883 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

Several brokerages have commented on FBRT. Raymond James upped their target price on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. B. Riley upgraded shares of Franklin BSP Realty Trust to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Janney Montgomery Scott assumed coverage on Franklin BSP Realty Trust in a report on Thursday, December 12th. They set a “buy” rating and a $16.00 target price on the stock. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.

Franklin BSP Realty Trust Stock Performance

The stock’s 50 day moving average is $12.85 and its two-hundred day moving average is $12.99. The stock has a market capitalization of $984.55 million, a price-to-earnings ratio of 14.67 and a beta of 1.39. The company has a current ratio of 90.45, a quick ratio of 90.45 and a debt-to-equity ratio of 3.67.

Franklin BSP Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.355 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 11.80%. Franklin BSP Realty Trust’s dividend payout ratio is currently 173.17%.

Hedge Funds Weigh In On Franklin BSP Realty Trust

A number of large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of Franklin BSP Realty Trust by 13.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,561 shares of the company’s stock valued at $410,000 after acquiring an additional 3,886 shares in the last quarter. Marble Harbor Investment Counsel LLC acquired a new position in Franklin BSP Realty Trust during the second quarter valued at approximately $189,000. Concorde Asset Management LLC bought a new position in Franklin BSP Realty Trust in the second quarter valued at approximately $187,000. AE Wealth Management LLC raised its stake in shares of Franklin BSP Realty Trust by 91.8% during the 2nd quarter. AE Wealth Management LLC now owns 30,597 shares of the company’s stock worth $387,000 after purchasing an additional 14,641 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Franklin BSP Realty Trust by 16.8% in the 2nd quarter. Sei Investments Co. now owns 26,954 shares of the company’s stock valued at $340,000 after buying an additional 3,873 shares during the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

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).