Franklin BSP Realty Trust, Inc. $FBRT Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 8.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 651,655 shares of the company’s stock after selling 62,830 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of Franklin BSP Realty Trust worth $6,966,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FBRT. CWM LLC increased its holdings in shares of Franklin BSP Realty Trust by 126.7% in the 2nd quarter. CWM LLC now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 1,357 shares during the last quarter. AlphaQuest LLC purchased a new position in Franklin BSP Realty Trust in the first quarter valued at approximately $32,000. Tortoise Investment Management LLC acquired a new stake in Franklin BSP Realty Trust during the first quarter worth approximately $39,000. Central Pacific Bank Trust Division raised its holdings in Franklin BSP Realty Trust by 100.0% during the second quarter. Central Pacific Bank Trust Division now owns 5,000 shares of the company’s stock worth $53,000 after purchasing an additional 2,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Franklin BSP Realty Trust by 138.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock worth $64,000 after buying an additional 2,926 shares during the last quarter. 59.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FBRT shares. Jones Trading cut their price target on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Franklin BSP Realty Trust in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.67.

Franklin BSP Realty Trust Trading Up 2.9%

NYSE FBRT opened at $10.02 on Friday. The firm’s fifty day moving average is $10.61 and its two-hundred day moving average is $10.87. Franklin BSP Realty Trust, Inc. has a one year low of $9.71 and a one year high of $13.58. The company has a debt-to-equity ratio of 3.21, a quick ratio of 81.24 and a current ratio of 81.24. The firm has a market cap of $817.29 million, a PE ratio of 12.52 and a beta of 1.00.

Franklin BSP Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.42 annualized dividend and a yield of 14.2%. Franklin BSP Realty Trust’s dividend payout ratio is currently 177.50%.

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).