14,850 Shares in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Bought by Concorde Asset Management LLC

Concorde Asset Management LLC purchased a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,850 shares of the company’s stock, valued at approximately $187,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp grew its stake in shares of Franklin BSP Realty Trust by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,829 shares of the company’s stock worth $960,000 after purchasing an additional 961 shares during the period. ProShare Advisors LLC boosted its holdings in Franklin BSP Realty Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 16,744 shares of the company’s stock worth $224,000 after buying an additional 1,155 shares in the last quarter. Arkadios Wealth Advisors grew its position in Franklin BSP Realty Trust by 7.8% during the second quarter. Arkadios Wealth Advisors now owns 20,867 shares of the company’s stock valued at $263,000 after buying an additional 1,509 shares during the period. Victory Capital Management Inc. increased its holdings in Franklin BSP Realty Trust by 15.4% in the fourth quarter. Victory Capital Management Inc. now owns 16,828 shares of the company’s stock valued at $227,000 after buying an additional 2,250 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Franklin BSP Realty Trust in the first quarter worth about $46,000. 59.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FBRT has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a research report on Thursday, June 27th. Raymond James raised their price objective on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a report on Thursday. Finally, BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Franklin BSP Realty Trust in a research note on Friday, July 19th.

Franklin BSP Realty Trust Stock Up 1.4 %

Shares of NYSE FBRT opened at $13.65 on Friday. Franklin BSP Realty Trust, Inc. has a 52-week low of $11.99 and a 52-week high of $14.66. The company has a quick ratio of 89.36, a current ratio of 89.36 and a debt-to-equity ratio of 3.54. The company’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $12.94. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.34 and a beta of 1.42.

Franklin BSP Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 10.40%. The ex-dividend date of this dividend is Monday, September 30th. Franklin BSP Realty Trust’s payout ratio is 107.58%.

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).