Geneos Wealth Management Inc. Cuts Stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Geneos Wealth Management Inc. lowered its stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,295 shares of the company’s stock after selling 2,000 shares during the period. Geneos Wealth Management Inc.’s holdings in Franklin BSP Realty Trust were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Franklin BSP Realty Trust by 70.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,881 shares of the company’s stock worth $39,000 after purchasing an additional 1,186 shares in the last quarter. Quantbot Technologies LP acquired a new position in Franklin BSP Realty Trust during the first quarter worth about $40,000. Captrust Financial Advisors acquired a new position in Franklin BSP Realty Trust during the second quarter worth about $68,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Franklin BSP Realty Trust during the second quarter worth about $74,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Franklin BSP Realty Trust by 280.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,041 shares of the company’s stock worth $80,000 after acquiring an additional 4,453 shares during the last quarter. Hedge funds and other institutional investors own 59.87% of the company’s stock.

Franklin BSP Realty Trust Stock Performance

NYSE:FBRT opened at $12.36 on Friday. The company has a debt-to-equity ratio of 3.15, a current ratio of 83.74 and a quick ratio of 83.74. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 8.77 and a beta of 1.43. The company’s 50-day moving average is $12.85 and its two-hundred day moving average is $13.11. Franklin BSP Realty Trust, Inc. has a 1-year low of $11.73 and a 1-year high of $14.70.

Franklin BSP Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were issued a $0.355 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.42 annualized dividend and a yield of 11.49%. Franklin BSP Realty Trust’s payout ratio is 100.71%.

Analyst Ratings Changes

A number of research firms 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 target on the stock in a research report on Wednesday, January 10th. Raymond James upgraded shares of Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Friday. Finally, Jonestrading decreased their target price on shares of Franklin BSP Realty Trust from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, February 16th.

Franklin BSP Realty Trust 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).