Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Sees Significant Growth in Short Interest

Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Get Rating) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,380,000 shares, a growth of 24.3% from the March 15th total of 1,110,000 shares. Based on an average daily volume of 360,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.2% of the shares of the company are short sold.

NYSE:FBRT traded down $0.27 during trading hours on Tuesday, hitting $13.88. The company’s stock had a trading volume of 2,506 shares, compared to its average volume of 343,527. The company has a 50-day moving average price of $13.39. The firm has a market capitalization of $610.12 million, a P/E ratio of -10.25 and a beta of 1.38. The company has a debt-to-equity ratio of 10.20, a current ratio of 202.51 and a quick ratio of 202.51. Franklin BSP Realty Trust has a 52-week low of $12.45 and a 52-week high of $17.74.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Thursday, March 31st were given a $0.355 dividend. This is a boost from Franklin BSP Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, March 30th. This represents a $1.42 annualized dividend and a yield of 10.23%. Franklin BSP Realty Trust’s dividend payout ratio is presently -102.90%.

Large investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. acquired a new stake in Franklin BSP Realty Trust in the first quarter valued at $251,000. Norges Bank acquired a new stake in Franklin BSP Realty Trust in the fourth quarter valued at $286,000. BlackRock Inc. acquired a new stake in shares of Franklin BSP Realty Trust during the fourth quarter valued at $104,616,000. Wells Fargo & Company MN acquired a new stake in shares of Franklin BSP Realty Trust during the fourth quarter valued at $393,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Franklin BSP Realty Trust during the fourth quarter valued at $841,000. Hedge funds and other institutional investors own 23.85% of the company’s stock.

Several equities research analysts have recently commented on the company. Jonestrading assumed coverage on Franklin BSP Realty Trust in a research note on Friday, April 8th. They set a “buy” rating and a $17.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Franklin BSP Realty Trust in a research note on Thursday, March 10th.

About Franklin BSP Realty Trust (Get Rating)

Franklin BSP Realty Trust, Inc, a real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt secured by properties located in the United States. The company also originates conduit loans; and invests in commercial real estate securities, as well as owns real estate acquired through foreclosure and deed in lieu of foreclosure, and purchased for investment.

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