1832 Asset Management L.P. purchased a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 450,000 shares of the company’s stock, valued at approximately $6,012,000.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Franklin BSP Realty Trust by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock valued at $119,886,000 after purchasing an additional 48,171 shares during the period. Strong Tower Advisory Services lifted its position in shares of Franklin BSP Realty Trust by 7.9% during the 1st quarter. Strong Tower Advisory Services now owns 690,202 shares of the company’s stock valued at $9,055,000 after acquiring an additional 50,332 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Franklin BSP Realty Trust by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 670,299 shares of the company’s stock valued at $9,056,000 after acquiring an additional 11,998 shares during the period. Orchard Capital Management LLC lifted its position in shares of Franklin BSP Realty Trust by 5.5% during the 4th quarter. Orchard Capital Management LLC now owns 582,132 shares of the company’s stock valued at $7,865,000 after acquiring an additional 30,321 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Franklin BSP Realty Trust by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 493,681 shares of the company’s stock valued at $6,596,000 after acquiring an additional 3,567 shares during the period. 59.87% of the stock is currently owned by institutional investors.
Franklin BSP Realty Trust Price Performance
Shares of FBRT stock traded up $0.14 on Friday, hitting $13.85. 223,869 shares of the company’s stock were exchanged, compared to its average volume of 362,290. The company has a debt-to-equity ratio of 3.21, a current ratio of 88.39 and a quick ratio of 88.39. Franklin BSP Realty Trust, Inc. has a 12 month low of $11.99 and a 12 month high of $14.66. The stock has a market cap of $1.13 billion, a P/E ratio of 10.49 and a beta of 1.44. The company has a 50 day moving average of $12.91 and a 200 day moving average of $12.91.
Franklin BSP Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were issued a $0.355 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.42 dividend on an annualized basis and a yield of 10.25%. Franklin BSP Realty Trust’s payout ratio is presently 107.58%.
Analyst Ratings Changes
Several analysts recently weighed in on the company. BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of Franklin BSP Realty Trust in a research report on Friday, July 19th. Raymond James upgraded Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Friday, April 12th. Finally, JMP Securities restated a “market outperform” rating and set a $15.00 price objective on shares of Franklin BSP Realty Trust in a research report on Thursday, June 27th.
Read Our Latest Report on FBRT
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).
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