Costello Asset Management INC Purchases New Holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Costello Asset Management INC bought a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,657 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Franklin BSP Realty Trust by 16.8% during the second quarter. Sei Investments Co. now owns 26,954 shares of the company’s stock worth $340,000 after acquiring an additional 3,873 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Franklin BSP Realty Trust by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,875 shares of the company’s stock worth $515,000 after purchasing an additional 1,518 shares in the last quarter. Cetera Investment Advisers lifted its stake in Franklin BSP Realty Trust by 0.9% in the 2nd quarter. Cetera Investment Advisers now owns 132,852 shares of the company’s stock valued at $1,674,000 after purchasing an additional 1,236 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Franklin BSP Realty Trust by 24.3% in the 2nd quarter. Centaurus Financial Inc. now owns 41,834 shares of the company’s stock valued at $527,000 after purchasing an additional 8,189 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Franklin BSP Realty Trust during the third quarter worth $345,000. 59.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on FBRT shares. B. Riley upgraded Franklin BSP Realty Trust to a “strong-buy” rating in a research note on Tuesday, January 7th. Janney Montgomery Scott started coverage on Franklin BSP Realty Trust in a research report on Thursday, December 12th. They issued a “buy” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.50.

Franklin BSP Realty Trust Price Performance

Shares of NYSE:FBRT opened at $12.73 on Friday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.45 and a current ratio of 90.45. Franklin BSP Realty Trust, Inc. has a 52 week low of $11.96 and a 52 week high of $14.11. The firm has a market cap of $1.04 billion, a PE ratio of 15.52 and a beta of 1.39. The firm’s fifty day moving average is $12.72 and its 200-day moving average is $12.97.

Franklin BSP Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 11.16%. The ex-dividend date was Tuesday, December 31st. Franklin BSP Realty Trust’s payout ratio is presently 173.17%.

Franklin BSP Realty Trust 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).