Franklin BSP Realty Trust (NYSE:FBRT) Shares Gap Up – Still a Buy?

Franklin BSP Realty Trust, Inc. (NYSE:FBRT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $12.16, but opened at $12.49. Franklin BSP Realty Trust shares last traded at $12.52, with a volume of 75,185 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Janney Montgomery Scott assumed coverage on Franklin BSP Realty Trust in a research note on Thursday, December 12th. They issued a “buy” rating and a $16.00 target price for the company. Raymond James raised their price target on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.50.

Franklin BSP Realty Trust Trading Up 0.2 %

The business has a 50 day moving average of $12.95 and a 200 day moving average of $13.01. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 15.29 and a beta of 1.40. The company has a debt-to-equity ratio of 3.67, a current ratio of 90.45 and a quick ratio of 90.45.

Franklin BSP Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 11.32%. Franklin BSP Realty Trust’s payout ratio is currently 173.17%.

Institutional Investors Weigh In On Franklin BSP Realty Trust

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in shares of Franklin BSP Realty Trust by 42.9% in the 3rd quarter. FMR LLC now owns 2,623 shares of the company’s stock valued at $34,000 after buying an additional 787 shares in the last quarter. Cetera Investment Advisers grew its stake in Franklin BSP Realty Trust by 0.9% in the second quarter. Cetera Investment Advisers now owns 132,852 shares of the company’s stock valued at $1,674,000 after acquiring an additional 1,236 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Franklin BSP Realty Trust by 7.6% in the third quarter. Orion Portfolio Solutions LLC now owns 19,639 shares of the company’s stock worth $256,000 after acquiring an additional 1,381 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Franklin BSP Realty Trust by 3.9% during the second 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 during the period. Finally, KBC Group NV lifted its holdings in shares of Franklin BSP Realty Trust by 51.6% during the 3rd quarter. KBC Group NV now owns 4,664 shares of the company’s stock valued at $61,000 after purchasing an additional 1,588 shares in the last quarter. 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).