Franklin BSP Realty Trust (NYSE:FBRT) Shares Gap Up – Here’s What Happened

Franklin BSP Realty Trust, Inc. (NYSE:FBRT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $12.16, but opened at $12.49. Franklin BSP Realty Trust shares last traded at $12.52, with a volume of 75,185 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Janney Montgomery Scott assumed coverage on Franklin BSP Realty Trust in a report on Thursday, December 12th. They set a “buy” rating and a $16.00 price objective on the stock. Raymond James raised their price objective on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.50.

Franklin BSP Realty Trust Stock Up 0.2 %

The stock has a market capitalization of $1.03 billion, a P/E ratio of 15.29 and a beta of 1.40. The business has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average 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.

Franklin BSP Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 11.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Franklin BSP Realty Trust’s payout ratio is 173.17%.

Institutional Trading of Franklin BSP Realty Trust

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Franklin BSP Realty Trust by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 702,184 shares of the company’s stock worth $8,848,000 after acquiring an additional 39,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Franklin BSP Realty Trust by 52.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,141 shares of the company’s stock valued at $266,000 after buying an additional 7,280 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Franklin BSP Realty Trust by 13.6% in the second quarter. Commonwealth Equity Services LLC now owns 32,561 shares of the company’s stock valued at $410,000 after buying an additional 3,886 shares during the last quarter. Magnus Financial Group LLC lifted its position in Franklin BSP Realty Trust by 26.6% during the 2nd quarter. Magnus Financial Group LLC now owns 29,575 shares of the company’s stock worth $373,000 after buying an additional 6,208 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC bought a new stake in Franklin BSP Realty Trust during the 2nd quarter worth about $189,000. Institutional investors and hedge funds own 59.87% of the company’s stock.

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).