Millennium Management LLC Reduces Holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Millennium Management LLC trimmed its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,756 shares of the company’s stock after selling 4,005 shares during the quarter. Millennium Management LLC owned approximately 0.26% of Franklin BSP Realty Trust worth $2,668,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Cetera Advisors LLC increased its position in shares of Franklin BSP Realty Trust by 181.4% during the first quarter. Cetera Advisors LLC now owns 92,432 shares of the company’s stock worth $1,235,000 after purchasing an additional 59,586 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Franklin BSP Realty Trust during the first quarter worth approximately $6,012,000. Gabelli Funds LLC increased its position in shares of Franklin BSP Realty Trust by 54.6% during the first quarter. Gabelli Funds LLC now owns 130,000 shares of the company’s stock worth $1,737,000 after purchasing an additional 45,901 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Franklin BSP Realty Trust by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock worth $119,886,000 after purchasing an additional 48,171 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Franklin BSP Realty Trust by 115.5% during the first quarter. Cetera Investment Advisers now owns 131,616 shares of the company’s stock worth $1,758,000 after purchasing an additional 70,549 shares in the last quarter. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Franklin BSP Realty Trust Stock Up 0.5 %

Shares of NYSE:FBRT opened at $12.90 on Wednesday. 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 business has a fifty day moving average of $13.03 and a two-hundred day moving average of $12.92. The stock has a market cap of $1.06 billion, a P/E ratio of 9.77 and a beta of 1.42. Franklin BSP Realty Trust, Inc. has a 52-week low of $11.99 and a 52-week high of $14.66.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 11.01%. The ex-dividend date was Monday, September 30th. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is presently 107.58%.

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).