BTIG Research Cuts Franklin BSP Realty Trust (NYSE:FBRT) Price Target to $14.00

Franklin BSP Realty Trust (NYSE:FBRT) had its price objective lowered by BTIG Research from $15.00 to $14.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

FBRT has been the subject of several other reports. Raymond James raised Franklin BSP Realty Trust from an outperform rating to a strong-buy rating and set a $15.00 target price for the company in a research report on Friday, April 12th. Jonestrading decreased their target price on Franklin BSP Realty Trust from $16.00 to $15.00 and set a buy rating for the company in a research report on Friday, February 16th. Finally, JMP Securities raised Franklin BSP Realty Trust from a market perform rating to an outperform rating and set a $15.00 target price for the company in a research report on Wednesday, January 10th.

Franklin BSP Realty Trust Trading Up 1.7 %

NYSE FBRT opened at $12.57 on Wednesday. Franklin BSP Realty Trust has a 12 month low of $11.73 and a 12 month high of $14.70. The firm has a market capitalization of $1.03 billion, a P/E ratio of 8.91 and a beta of 1.43. The business has a fifty day simple moving average of $12.83 and a 200 day simple moving average of $13.07. The company has a current ratio of 83.74, a quick ratio of 83.74 and a debt-to-equity ratio of 3.15.

Franklin BSP Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 11.30%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is currently 100.71%.

Institutional Investors Weigh In On Franklin BSP Realty Trust

Several large investors have recently added to or reduced their stakes in FBRT. State Street Corp increased its holdings in Franklin BSP Realty Trust by 92.6% in the 2nd quarter. State Street Corp now owns 2,757,859 shares of the company’s stock worth $38,102,000 after acquiring an additional 1,326,061 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Franklin BSP Realty Trust in the 1st quarter worth about $16,702,000. Vanguard Group Inc. increased its holdings in Franklin BSP Realty Trust by 28.9% in the 1st quarter. Vanguard Group Inc. now owns 4,624,886 shares of the company’s stock worth $64,655,000 after acquiring an additional 1,036,299 shares during the last quarter. Northern Trust Corp boosted its stake in Franklin BSP Realty Trust by 112.7% in the 2nd quarter. Northern Trust Corp now owns 850,705 shares of the company’s stock worth $11,468,000 after purchasing an additional 450,722 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Franklin BSP Realty Trust by 672.2% in the 2nd quarter. Renaissance Technologies LLC now owns 402,300 shares of the company’s stock worth $5,423,000 after purchasing an additional 350,200 shares during the period. Hedge funds and other institutional investors 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).