Van ECK Associates Corp Sells 38,437 Shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Van ECK Associates Corp lessened its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,364 shares of the company’s stock after selling 38,437 shares during the period. Van ECK Associates Corp owned about 0.76% of Franklin BSP Realty Trust worth $8,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FBRT. Allspring Global Investments Holdings LLC boosted its stake in shares of Franklin BSP Realty Trust by 532.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,883 shares of the company’s stock valued at $226,000 after purchasing an additional 14,214 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Franklin BSP Realty Trust by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 71,829 shares of the company’s stock valued at $960,000 after purchasing an additional 961 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Franklin BSP Realty Trust during the first quarter valued at about $136,000. ProShare Advisors LLC boosted its stake in shares of Franklin BSP Realty Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 16,744 shares of the company’s stock valued at $224,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 valued at $119,886,000 after purchasing an additional 48,171 shares in the last quarter. Institutional investors own 59.87% of the company’s stock.

Franklin BSP Realty Trust Price Performance

Franklin BSP Realty Trust stock opened at $13.22 on Thursday. The stock’s 50 day moving average is $13.11 and its 200 day moving average is $12.97. The company has a debt-to-equity ratio of 3.54, a current ratio of 89.36 and a quick ratio of 89.36. The firm has a market cap of $1.08 billion, a P/E ratio of 16.12 and a beta of 1.41. Franklin BSP Realty Trust, Inc. has a one year low of $11.99 and a one year 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. Shareholders of record on Monday, September 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 10.74%. The ex-dividend date was Monday, September 30th. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is presently 173.17%.

Wall Street Analysts Forecast Growth

FBRT has been the topic of a number of recent research reports. Raymond James lifted their price target on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Franklin BSP Realty Trust in a research note on Friday, July 19th.

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).