Mirae Asset Global Investments Co. Ltd. Has $7.22 Million Holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 534,473 shares of the company’s stock after selling 17,311 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.65% of Franklin BSP Realty Trust worth $7,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBRT. Raymond James Financial Services Advisors Inc. acquired a new position in Franklin BSP Realty Trust during the first quarter worth about $680,000. Bank of New York Mellon Corp raised its stake in Franklin BSP Realty Trust by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 374,100 shares of the company’s stock worth $5,231,000 after acquiring an additional 10,905 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in 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 acquiring an additional 1,186 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Franklin BSP Realty Trust during the first quarter worth about $851,000. Finally, MetLife Investment Management LLC raised its stake in Franklin BSP Realty Trust by 49.8% during the first quarter. MetLife Investment Management LLC now owns 21,555 shares of the company’s stock worth $301,000 after acquiring an additional 7,167 shares in the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FBRT shares. Jonestrading lowered their target price on Franklin BSP Realty Trust from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Raymond James upgraded 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 report on Friday. Finally, JMP Securities upgraded 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 report on Wednesday, January 10th.

Franklin BSP Realty Trust Stock Performance

NYSE:FBRT opened at $12.36 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of 8.77 and a beta of 1.43. The company has a current ratio of 83.74, a quick ratio of 83.74 and a debt-to-equity ratio of 3.15. The stock’s 50-day moving average is $12.85 and its 200-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 business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 11.49%. The ex-dividend date was Wednesday, March 27th. Franklin BSP Realty Trust’s payout ratio is presently 100.71%.

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).