Franklin BSP Realty Trust (NYSE:FBRT) Research Coverage Started at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Franklin BSP Realty Trust (NYSE:FBRT) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

Separately, Raymond James raised their price objective on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Franklin BSP Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $15.50.

Franklin BSP Realty Trust Trading Down 0.2 %

Shares of FBRT opened at $13.13 on Thursday. The company has a debt-to-equity ratio of 3.67, a current ratio of 90.45 and a quick ratio of 90.45. The firm has a 50 day simple moving average of $12.98 and a 200-day simple moving average of $13.00. Franklin BSP Realty Trust has a 1-year low of $11.99 and a 1-year high of $14.66. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 16.01 and a beta of 1.40.

Franklin BSP Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.355 per share. The ex-dividend date was Monday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 10.81%. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is currently 173.17%.

Institutional Trading of Franklin BSP Realty Trust

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Franklin BSP Realty Trust by 33.6% during the second quarter. Van ECK Associates Corp now owns 659,801 shares of the company’s stock worth $8,313,000 after acquiring an additional 166,120 shares during the last quarter. Gabelli Funds LLC boosted its position in Franklin BSP Realty Trust by 35.2% during the second quarter. Gabelli Funds LLC now owns 175,698 shares of the company’s stock worth $2,214,000 after acquiring an additional 45,698 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Franklin BSP Realty Trust by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,290 shares of the company’s stock worth $13,403,000 after acquiring an additional 117,745 shares during the last quarter. Strong Tower Advisory Services boosted its position in Franklin BSP Realty Trust by 28.7% during the third quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock worth $13,780,000 after acquiring an additional 235,548 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in Franklin BSP Realty Trust by 22.9% during the third quarter. Penserra Capital Management LLC now owns 77,352 shares of the company’s stock worth $1,010,000 after acquiring an additional 14,415 shares during the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

About Franklin BSP Realty Trust

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).