B. Riley Upgrades Franklin BSP Realty Trust (NYSE:FBRT) to “Strong-Buy”

Franklin BSP Realty Trust (NYSE:FBRT) was upgraded by equities researchers at B. Riley to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

FBRT has been the topic of several other research reports. Raymond James lifted their price target on shares of 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. Janney Montgomery Scott assumed coverage on Franklin BSP Realty Trust in a report on Thursday, December 12th. They issued a “buy” rating and a $16.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.50.

Franklin BSP Realty Trust Stock Performance

Shares of NYSE FBRT opened at $12.33 on Tuesday. Franklin BSP Realty Trust has a 12-month low of $11.99 and a 12-month high of $14.11. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.04 and a beta of 1.39. The company has a current ratio of 90.45, a quick ratio of 90.45 and a debt-to-equity ratio of 3.67. The firm has a 50 day moving average of $12.87 and a 200 day moving average of $12.99.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Franklin BSP Realty Trust by 3.6% in the 3rd quarter. State Street Corp now owns 3,359,241 shares of the company’s stock valued at $45,059,000 after acquiring an additional 116,589 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Franklin BSP Realty Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,939,515 shares of the company’s stock valued at $25,335,000 after purchasing an additional 9,428 shares during the last quarter. Strong Tower Advisory Services grew its position in Franklin BSP Realty Trust by 28.7% during the 3rd quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock worth $13,780,000 after purchasing an additional 235,548 shares during the period. Charles Schwab Investment Management Inc. grew its position in Franklin BSP Realty Trust by 13.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,290 shares of the company’s stock worth $13,403,000 after purchasing an additional 117,745 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of Franklin BSP Realty Trust by 55.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 700,000 shares of the company’s stock valued at $8,820,000 after buying an additional 250,000 shares during the last quarter. 59.87% of the stock is owned by hedge funds and other institutional investors.

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).