Franklin BSP Realty Trust (NYSE:FBRT) Stock Rating Upgraded by Raymond James

Franklin BSP Realty Trust (NYSE:FBRT) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $15.00 target price on the stock. Raymond James’ target price indicates a potential upside of 21.36% from the company’s current price.

Several other brokerages also recently weighed in on FBRT. JMP Securities upgraded shares of Franklin BSP Realty Trust from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 10th. Jonestrading cut their price objective on shares of Franklin BSP Realty Trust from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 16th.

Franklin BSP Realty Trust Trading Down 1.2 %

Franklin BSP Realty Trust stock opened at $12.36 on Friday. The firm’s 50-day moving average is $12.85 and its 200-day moving average is $13.11. The company has a debt-to-equity ratio of 3.15, a quick ratio of 83.74 and a current ratio of 83.74. Franklin BSP Realty Trust has a 1 year low of $11.73 and a 1 year high of $14.70. The company has a market cap of $1.02 billion, a P/E ratio of 8.77 and a beta of 1.43.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Several large investors have recently bought and sold shares of FBRT. Raymond James Financial Services Advisors Inc. acquired a new position in Franklin BSP Realty Trust during the 1st quarter valued at about $680,000. Bank of New York Mellon Corp increased its stake in Franklin BSP Realty Trust by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 374,100 shares of the company’s stock valued at $5,231,000 after buying an additional 10,905 shares during the period. PNC Financial Services Group Inc. increased its stake in Franklin BSP Realty Trust by 70.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,881 shares of the company’s stock valued at $39,000 after buying an additional 1,186 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Franklin BSP Realty Trust during the 1st quarter valued at about $851,000. Finally, MetLife Investment Management LLC increased its stake in Franklin BSP Realty Trust by 49.8% during the 1st quarter. MetLife Investment Management LLC now owns 21,555 shares of the company’s stock valued at $301,000 after buying an additional 7,167 shares during the period. Institutional investors and hedge funds own 59.87% of the company’s stock.

Franklin BSP Realty Trust Company 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).