Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Declares Quarterly Dividend of $0.36

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) declared a quarterly dividend on Thursday, June 12th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.355 per share on Thursday, July 10th. This represents a $1.42 dividend on an annualized basis and a yield of 12.80%. The ex-dividend date is Monday, June 30th.

Franklin BSP Realty Trust has a dividend payout ratio of 103.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Franklin BSP Realty Trust to earn $1.49 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 95.3%.

Franklin BSP Realty Trust Stock Performance

NYSE:FBRT opened at $11.09 on Friday. Franklin BSP Realty Trust has a 1 year low of $10.50 and a 1 year high of $14.12. The firm has a 50 day moving average of $11.22 and a 200-day moving average of $12.29. 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 capitalization of $911.76 million, a P/E ratio of 13.36 and a beta of 1.05.

Analyst Ratings Changes

FBRT has been the subject of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of Franklin BSP Realty Trust in a research note on Wednesday, March 12th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of Franklin BSP Realty Trust in a research note on Tuesday, April 29th. Finally, Jones Trading cut their target price on shares of 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. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Franklin BSP Realty Trust currently has a consensus rating of “Buy” and a consensus target price of $15.30.

Hedge Funds Weigh In On Franklin BSP Realty Trust

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in shares of Franklin BSP Realty Trust in the 1st quarter valued at about $89,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Franklin BSP Realty Trust by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,474 shares of the company’s stock valued at $1,955,000 after acquiring an additional 4,391 shares during the period. Finally, Royal Bank of Canada raised its holdings in Franklin BSP Realty Trust by 3.6% in the 1st 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 period. 59.87% of the stock is currently owned by institutional investors and hedge funds.

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).