Gamco Investors INC. ET AL grew its stake in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Free Report) by 64.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,917 shares of the company’s stock after purchasing an additional 73,955 shares during the period. Gamco Investors INC. ET AL owned about 0.25% of Franklin BSP Realty Trust worth $1,604,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FBRT. Eagle Point Credit Management LLC purchased a new position in Franklin BSP Realty Trust in the 4th quarter worth about $8,381,000. Invesco Ltd. lifted its stake in Franklin BSP Realty Trust by 72.2% during the fourth quarter. Invesco Ltd. now owns 1,829,401 shares of the company’s stock valued at $18,349,000 after buying an additional 766,875 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Franklin BSP Realty Trust during the second quarter valued at about $4,237,000. UBS Group AG boosted its holdings in shares of Franklin BSP Realty Trust by 24.0% in the third quarter. UBS Group AG now owns 873,047 shares of the company’s stock worth $9,481,000 after buying an additional 168,993 shares during the period. Finally, Independent Financial Group LLC acquired a new position in shares of Franklin BSP Realty Trust in the first quarter worth about $1,117,000. Institutional investors and hedge funds own 59.87% of the company’s stock.
Insider Activity at Franklin BSP Realty Trust
In related news, Director Buford H. Ortale purchased 29,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $9.85 per share, for a total transaction of $291,530.45. Following the completion of the acquisition, the director owned 28,900 shares in the company, valued at $284,665. This trade represents a -4,246.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Franklin BSP Realty Trust Stock Down 1.1%
Franklin BSP Realty Trust (NYSE:FBRT – Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.13). The business had revenue of $74.38 million for the quarter, compared to analysts’ expectations of $73.09 million. Franklin BSP Realty Trust had a net margin of 24.26% and a return on equity of 6.46%. As a group, analysts expect that Franklin BSP Realty Trust, Inc. will post 0.72 EPS for the current fiscal year.
Franklin BSP Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Franklin BSP Realty Trust’s dividend payout ratio is 156.86%.
Analyst Ratings Changes
Several research firms have recently weighed in on FBRT. Weiss Ratings downgraded shares of Franklin BSP Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 2nd. Zacks Research raised shares of Franklin BSP Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Citigroup reaffirmed an “outperform” rating on shares of Franklin BSP Realty Trust in a research note on Thursday, April 16th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $11.00 price objective on shares of Franklin BSP Realty Trust in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.
View Our Latest Stock Analysis on Franklin BSP Realty Trust
Franklin BSP Realty Trust Profile
Franklin BSP Realty Trust, Inc (NYSE: FBRT) is a publicly traded real estate investment trust sponsored by an affiliate of Franklin Square Capital Partners. The company focuses on acquiring, owning and managing single-tenant net leased commercial properties across the United States. Its portfolio spans retail, office, industrial and other property types, with leases structured to shift most property‐level responsibilities—such as maintenance, property taxes and insurance—to the tenants.
By concentrating on net lease investments, Franklin BSP Realty Trust aims to generate stable and predictable rental income streams.
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