Jennison Associates LLC Makes New Investment in Franklin BSP Realty Trust, Inc. $FBRT

Jennison Associates LLC purchased a new stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) in the fourth quarter, HoldingsChannel reports. The firm purchased 100,931 shares of the company’s stock, valued at approximately $1,012,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Franklin BSP Realty Trust by 7.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,042,207 shares of the company’s stock worth $11,318,000 after acquiring an additional 70,645 shares during the last quarter. UBS Group AG increased its holdings in Franklin BSP Realty Trust by 24.0% in the 3rd quarter. UBS Group AG now owns 873,047 shares of the company’s stock valued at $9,481,000 after purchasing an additional 168,993 shares during the last quarter. Van ECK Associates Corp increased its holdings in Franklin BSP Realty Trust by 3.2% in the 3rd quarter. Van ECK Associates Corp now owns 705,017 shares of the company’s stock valued at $7,656,000 after purchasing an additional 22,149 shares during the last quarter. Condor Capital Management raised its position in Franklin BSP Realty Trust by 9.3% in the third quarter. Condor Capital Management now owns 472,902 shares of the company’s stock valued at $5,136,000 after purchasing an additional 40,373 shares during the period. Finally, Gabelli Funds LLC lifted its stake in Franklin BSP Realty Trust by 24.7% during the third quarter. Gabelli Funds LLC now owns 467,500 shares of the company’s stock worth $5,077,000 after purchasing an additional 92,500 shares in the last quarter. 59.87% of the stock is owned by hedge funds and other institutional investors.

Franklin BSP Realty Trust Stock Performance

Shares of FBRT stock opened at $9.29 on Monday. The company has a quick ratio of 90.06, a current ratio of 90.06 and a debt-to-equity ratio of 3.74. Franklin BSP Realty Trust, Inc. has a 52 week low of $8.24 and a 52 week high of $11.84. The stock has a market capitalization of $714.57 million, a PE ratio of 18.21 and a beta of 0.94. The firm has a 50 day moving average of $8.93 and a two-hundred day moving average of $9.76.

Franklin BSP Realty Trust (NYSE:FBRT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The company had revenue of $74.38 million for the quarter, compared to analysts’ expectations of $73.09 million. Franklin BSP Realty Trust had a return on equity of 6.46% and a net margin of 24.26%. On average, research analysts predict that Franklin BSP Realty Trust, Inc. will post 0.87 EPS for the current fiscal year.

Franklin BSP Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 8.6%. Franklin BSP Realty Trust’s dividend payout ratio is 156.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FBRT. Weiss Ratings restated a “hold (c-)” rating on shares of Franklin BSP Realty Trust in a research report on Tuesday, April 21st. JonesTrading cut their price objective on Franklin BSP Realty Trust from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Citigroup reissued an “outperform” rating on shares of Franklin BSP Realty Trust in a research note on Thursday, April 16th. Zacks Research upgraded Franklin BSP Realty Trust from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Wall Street Zen raised Franklin BSP Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Franklin BSP Realty Trust Company Profile

Franklin BSP Realty Trust, Inc (NYSE: FBRT) is a publicly traded real estate investment trust sponsored by an affiliate of Franklin Square Capital Partners. The company focuses on acquiring, owning and managing single-tenant net leased commercial properties across the United States. Its portfolio spans retail, office, industrial and other property types, with leases structured to shift most property?level responsibilities—such as maintenance, property taxes and insurance—to the tenants.

By concentrating on net lease investments, Franklin BSP Realty Trust aims to generate stable and predictable rental income streams.