Gabelli Funds LLC Has $2.32 Million Stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Gabelli Funds LLC trimmed its holdings in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,901 shares of the company’s stock after selling 5,099 shares during the period. Gabelli Funds LLC owned 0.23% of Franklin BSP Realty Trust worth $2,319,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FMR LLC raised 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 acquiring an additional 787 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Franklin BSP Realty Trust by 6.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,877 shares of the company’s stock worth $262,000 after purchasing an additional 1,238 shares during the period. Mutual Advisors LLC boosted its position in shares of Franklin BSP Realty Trust by 7.7% during the fourth quarter. Mutual Advisors LLC now owns 19,728 shares of the company’s stock worth $247,000 after purchasing an additional 1,402 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Franklin BSP Realty Trust by 3.2% in the 4th quarter. Allworth Financial LP now owns 48,183 shares of the company’s stock valued at $599,000 after buying an additional 1,501 shares during the period. Finally, Mariner LLC increased its position in shares of Franklin BSP Realty Trust by 0.5% in the 4th quarter. Mariner LLC now owns 581,963 shares of the company’s stock valued at $7,298,000 after buying an additional 2,746 shares in the last quarter. 59.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBRT has been the topic of several recent analyst reports. Citigroup reiterated an “outperform” rating on shares of Franklin BSP Realty Trust in a report on Wednesday, March 12th. B. Riley upgraded Franklin BSP Realty Trust to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Jones Trading reissued a “buy” rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a research note on Tuesday, March 11th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.50.

Franklin BSP Realty Trust Stock Up 2.7 %

FBRT stock opened at $11.35 on Friday. The stock has a market capitalization of $948.95 million, a P/E ratio of 13.67 and a beta of 1.14. The business has a 50-day moving average of $12.64 and a 200-day moving average of $12.76. The company has a debt-to-equity ratio of 3.42, a current ratio of 84.89 and a quick ratio of 90.45. Franklin BSP Realty Trust, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $14.12.

Franklin BSP Realty Trust (NYSE:FBRT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $55.95 million during the quarter, compared to the consensus estimate of $49.28 million. Franklin BSP Realty Trust had a net margin of 45.56% and a return on equity of 8.17%. On average, sell-side analysts anticipate that Franklin BSP Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Franklin BSP Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 12.52%. The ex-dividend date of this dividend was Monday, March 31st. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is currently 171.08%.

Franklin BSP Realty Trust 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).