Rhumbline Advisers Has $3.03 Million Position in Franklin BSP Realty Trust, Inc. $FBRT

Rhumbline Advisers reduced its position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 5.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 237,949 shares of the company’s stock after selling 12,539 shares during the period. Rhumbline Advisers owned 0.29% of Franklin BSP Realty Trust worth $3,031,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Franklin BSP Realty Trust during the first quarter valued at approximately $2,542,000. Strong Tower Advisory Services lifted its position in shares of Franklin BSP Realty Trust by 16.3% during 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. Bank of New York Mellon Corp raised its stake in Franklin BSP Realty Trust by 24.2% during 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 purchasing an additional 139,417 shares during the period. Gabelli Funds LLC increased its stake in Franklin BSP Realty Trust by 51.6% in the 1st quarter. Gabelli Funds LLC now owns 280,351 shares of the company’s stock worth $3,572,000 after acquiring an additional 95,450 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Franklin BSP Realty Trust by 11.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 890,249 shares of the company’s stock valued at $11,342,000 after purchasing an additional 88,378 shares during the last quarter. 59.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jones Trading lowered their target price on Franklin BSP Realty Trust from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.88.

Franklin BSP Realty Trust Stock Up 0.7%

Franklin BSP Realty Trust stock opened at $11.44 on Tuesday. The firm has a market cap of $941.28 million, a price-to-earnings ratio of 11.67 and a beta of 1.04. Franklin BSP Realty Trust, Inc. has a 52 week low of $9.79 and a 52 week high of $13.74. The business’s 50-day moving average price is $11.00 and its 200 day moving average price is $11.42. The company has a quick ratio of 81.24, a current ratio of 81.24 and a debt-to-equity ratio of 3.21.

Franklin BSP Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 12.4%. Franklin BSP Realty Trust’s dividend payout ratio is currently 144.90%.

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).