Insider Buying: Franklin BSP Realty Trust (NYSE:FBRT) CEO Buys $998,364.00 in Stock

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) CEO Richard Byrne bought 162,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average cost of $6.14 per share, for a total transaction of $998,364.00. Following the purchase, the chief executive officer directly owned 162,600 shares in the company, valued at $998,364. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Franklin BSP Realty Trust Stock Down 1.2%

NYSE FBRT opened at $6.20 on Friday. Franklin BSP Realty Trust, Inc. has a 12 month low of $5.90 and a 12 month 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. The stock has a market cap of $469.38 million, a PE ratio of -77.53 and a beta of 1.10. The stock’s 50 day moving average is $6.91 and its 200 day moving average is $8.26.

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

Franklin BSP Realty Trust Announces Dividend

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

Hedge Funds Weigh In On Franklin BSP Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in FBRT. Independent Financial Group LLC bought a new position in Franklin BSP Realty Trust in the 1st quarter worth about $1,117,000. Q Global Advisors LLC raised its stake in shares of Franklin BSP Realty Trust by 32.1% during the first quarter. Q Global Advisors LLC now owns 398,078 shares of the company’s stock valued at $3,380,000 after acquiring an additional 96,723 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Franklin BSP Realty Trust by 64.3% during the first quarter. Gamco Investors INC. ET AL now owns 188,917 shares of the company’s stock valued at $1,604,000 after acquiring an additional 73,955 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Franklin BSP Realty Trust in the second quarter valued at approximately $564,000. Finally, Gabelli Funds LLC grew its stake in Franklin BSP Realty Trust by 12.9% in the first quarter. Gabelli Funds LLC now owns 556,252 shares of the company’s stock worth $4,723,000 after purchasing an additional 63,752 shares in the last quarter. 59.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. B. Riley Financial decreased their price target on shares of 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. UBS Group set a $10.00 price objective on Franklin BSP Realty Trust in a research report on Wednesday, September 23rd. JonesTrading reaffirmed a “buy” rating and issued a $12.00 target price on shares of Franklin BSP Realty Trust in a report on Friday, September 11th. Citigroup reaffirmed a “market outperform” rating on shares of Franklin BSP Realty Trust in a report on Wednesday, September 23rd. 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.75.

About Franklin BSP Realty Trust

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.