Franklin BSP Realty Trust (NYSE:FBRT) Posts Earnings Results, Misses Expectations By $0.27 EPS

Franklin BSP Realty Trust (NYSE:FBRT) issued its earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.27), FiscalAI reports. The business had revenue of $22.11 million for the quarter, compared to analysts’ expectations of $72.54 million. Franklin BSP Realty Trust had a return on equity of 4.18% and a net margin of 6.38%.

Franklin BSP Realty Trust Stock Down 2.0%

Shares of FBRT traded down $0.12 during trading hours on Friday, hitting $6.04. 529,446 shares of the company were exchanged, compared to its average volume of 1,281,338. The company has a market cap of $501.15 million, a PE ratio of -75.43 and a beta of 0.97. The company has a debt-to-equity ratio of 3.47, a quick ratio of 96.80 and a current ratio of 96.80. The firm’s 50 day moving average is $7.17 and its 200-day moving average is $8.38. Franklin BSP Realty Trust has a 52 week low of $5.90 and a 52 week high of $10.82.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 13.3%. Franklin BSP Realty Trust’s payout ratio is 181.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FBRT. Weiss Ratings cut Franklin BSP Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citizens Jmp reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Franklin BSP Realty Trust in a report on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of Franklin BSP Realty Trust in a research note on Wednesday, September 23rd. Zacks Research cut shares of Franklin BSP Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, BTIG Research lowered shares of Franklin BSP Realty Trust from a “buy” rating to a “neutral” rating in a report on Friday, September 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Franklin BSP Realty Trust Company Profile

Franklin BSP Realty Trust (NYSE: FBRT) is a real estate investment trust focused on commercial real estate finance. The company originates, acquires and manages a diversified portfolio of commercial real estate debt investments, with an emphasis on loans secured by properties in the United States.

Its investment activities primarily include senior mortgage loans, subordinate and mezzanine loans, preferred equity investments and other debt-related instruments. The portfolio is designed to provide financing to owners and operators of commercial properties across sectors such as multifamily, office, industrial, retail, hospitality and other specialty real estate.

Franklin BSP Realty Trust was formerly known as Benefit Street Partners Realty Trust and operates under the Franklin BSP platform.