Geode Capital Management LLC Raises Position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Geode Capital Management LLC grew its holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,939,515 shares of the company’s stock after buying an additional 9,428 shares during the quarter. Geode Capital Management LLC’s holdings in Franklin BSP Realty Trust were worth $25,335,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. FMR LLC boosted its holdings in Franklin BSP Realty Trust by 42.9% in the third quarter. FMR LLC now owns 2,623 shares of the company’s stock valued at $34,000 after purchasing an additional 787 shares during the period. Fairscale Capital LLC purchased a new position in shares of Franklin BSP Realty Trust in the 2nd quarter valued at about $41,000. KBC Group NV boosted its stake in shares of Franklin BSP Realty Trust by 51.6% in the 3rd quarter. KBC Group NV now owns 4,664 shares of the company’s stock valued at $61,000 after buying an additional 1,588 shares during the period. Intech Investment Management LLC acquired a new position in shares of Franklin BSP Realty Trust during the third quarter worth about $168,000. Finally, Concorde Asset Management LLC purchased a new stake in shares of Franklin BSP Realty Trust during the second quarter worth approximately $187,000. Hedge funds and other institutional investors own 59.87% of the company’s stock.

Franklin BSP Realty Trust Price Performance

FBRT stock opened at $12.68 on Friday. The business has a 50 day moving average price of $12.97 and a 200 day moving average price of $13.01. The company has a quick ratio of 90.45, a current ratio of 90.45 and a debt-to-equity ratio of 3.67. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 15.46 and a beta of 1.40. Franklin BSP Realty Trust, Inc. has a fifty-two week low of $11.99 and a fifty-two week high of $14.11.

Franklin BSP Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 11.20%. Franklin BSP Realty Trust’s dividend payout ratio is presently 173.17%.

Analyst Ratings Changes

FBRT has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Janney Montgomery Scott began coverage on shares of Franklin BSP Realty Trust in a research report on Thursday, December 12th. They set a “buy” rating and a $16.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Franklin BSP Realty Trust currently has a consensus rating of “Buy” and an average price target of $15.50.

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).