Insider Buying: Franklin BSP Realty Trust (NYSE:FBRT) Director Buys $18,043.50 in Stock

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Director Buford Ortale purchased 1,046 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was acquired at an average cost of $17.25 per share, with a total value of $18,043.50. Following the purchase, the director owned 3,193 shares of the company’s stock, valued at approximately $55,079.25. This represents a 48.72% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Franklin BSP Realty Trust Price Performance

Shares of Franklin BSP Realty Trust stock opened at $6.20 on Friday. The stock has a market capitalization of $469.38 million, a price-to-earnings ratio of -77.53 and a beta of 1.10. The firm’s 50-day moving average price is $6.91 and its two-hundred day moving average price is $8.26. Franklin BSP Realty Trust, Inc. has a 1-year low of $5.90 and a 1-year high of $10.82. The company has a current ratio of 83.00, a quick ratio of 83.00 and a debt-to-equity ratio of 3.60.

Franklin BSP Realty Trust (NYSE:FBRT) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.27). Franklin BSP Realty Trust had a net margin of 6.38% and a return on equity of 4.30%. The firm had revenue of $22.11 million during the quarter, compared to analyst estimates of $72.54 million. On average, equities analysts predict that Franklin BSP Realty Trust, Inc. will post 0.73 earnings per share for the current fiscal year.

Franklin BSP Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.9%. Franklin BSP Realty Trust’s dividend payout ratio is presently -1,000.00%.

Institutional Investors Weigh In On Franklin BSP Realty Trust

A number of hedge funds have recently added to or reduced their stakes in FBRT. PNC Financial Services Group Inc. grew its position in Franklin BSP Realty Trust by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,054 shares of the company’s stock valued at $94,000 after acquiring an additional 1,480 shares during the last quarter. Concorde Asset Management LLC raised its holdings in Franklin BSP Realty Trust by 10.5% in the 2nd quarter. Concorde Asset Management LLC now owns 16,900 shares of the company’s stock worth $141,000 after purchasing an additional 1,600 shares during the period. Bessemer Group Inc. raised its holdings in Franklin BSP Realty Trust by 96.3% in the 1st quarter. Bessemer Group Inc. now owns 5,471 shares of the company’s stock valued at $46,000 after buying an additional 2,684 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Franklin BSP Realty Trust by 42.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 16,553 shares of the company’s stock valued at $141,000 after buying an additional 4,946 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Franklin BSP Realty Trust during the 1st quarter worth $47,000. 59.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on FBRT shares. B. Riley Financial cut their target price on Franklin BSP Realty Trust from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. Zacks Research cut Franklin BSP Realty Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 28th. Weiss Ratings downgraded Franklin BSP Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. JonesTrading reaffirmed a “buy” rating and set a $12.00 target price on shares of Franklin BSP Realty Trust in a research note on Friday, September 11th. Finally, BTIG Research downgraded Franklin BSP Realty Trust from a “buy” rating to a “neutral” rating in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Franklin BSP Realty Trust presently has an average rating of “Hold” and an average target price of $10.75.

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.