PNC Financial Services Group Inc. Grows Stock Holdings in Franklin BSP Realty Trust, Inc. $FBRT

PNC Financial Services Group Inc. boosted its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 138.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,044 shares of the company’s stock after buying an additional 2,926 shares during the period. PNC Financial Services Group Inc.’s holdings in Franklin BSP Realty Trust were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Franklin BSP Realty Trust by 24.2% in the 1st quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company’s stock valued at $9,103,000 after buying an additional 139,417 shares in the last quarter. GAMMA Investing LLC grew its stake in Franklin BSP Realty Trust by 1,683.5% in the 1st quarter. GAMMA Investing LLC now owns 4,637 shares of the company’s stock valued at $59,000 after buying an additional 4,377 shares in the last quarter. Deutsche Bank AG grew its stake in Franklin BSP Realty Trust by 51.0% in the 4th quarter. Deutsche Bank AG now owns 74,962 shares of the company’s stock valued at $940,000 after buying an additional 25,322 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Franklin BSP Realty Trust by 20.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 149,083 shares of the company’s stock valued at $1,870,000 after buying an additional 24,935 shares in the last quarter. Finally, Strong Tower Advisory Services grew its stake in Franklin BSP Realty Trust by 16.3% in the 1st quarter. Strong Tower Advisory Services now owns 1,345,488 shares of the company’s stock valued at $17,142,000 after buying an additional 188,377 shares in the last quarter. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FBRT has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of Franklin BSP Realty Trust in a research note on Tuesday, April 29th. Jones Trading reduced their price target on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Franklin BSP Realty Trust has an average rating of “Buy” and an average target price of $14.88.

Franklin BSP Realty Trust Stock Down 1.5%

FBRT opened at $11.0350 on Friday. The company has a fifty day moving average price of $10.79 and a 200-day moving average price of $11.63. The firm has a market capitalization of $907.96 million, a P/E ratio of 11.26 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a current ratio of 81.24 and a quick ratio of 81.24. Franklin BSP Realty Trust, Inc. has a one year low of $9.79 and a one year high of $13.74.

Franklin BSP Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 30th were given a $0.355 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.42 annualized dividend and a yield of 12.9%. Franklin BSP Realty Trust’s payout ratio is 144.90%.

About Franklin BSP Realty Trust

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).