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

Beck Capital Management LLC acquired a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 34,872 shares of the company’s stock, valued at approximately $439,000.

Several other hedge funds have also recently bought and sold shares of the company. Cetera Advisors LLC increased its stake in 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 during the period. 1832 Asset Management L.P. acquired a new position in shares of Franklin BSP Realty Trust in the first quarter worth $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 acquiring an additional 45,901 shares during the period. Vanguard Group Inc. raised its stake in shares of Franklin BSP Realty Trust by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock valued at $119,886,000 after acquiring an additional 48,171 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Franklin BSP Realty Trust by 115.5% in the first quarter. Cetera Investment Advisers now owns 131,616 shares of the company’s stock valued at $1,758,000 after purchasing an additional 70,549 shares during the period. Institutional investors and hedge funds own 59.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FBRT. Raymond James upped their price target on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a research note on Thursday, June 27th. Finally, BTIG Research reaffirmed 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 Down 0.7 %

Franklin BSP Realty Trust stock opened at $13.55 on Monday. The stock’s fifty day moving average is $13.19 and its two-hundred day moving average is $12.94. The stock has a market cap of $1.11 billion, a PE ratio of 10.27 and a beta of 1.42. Franklin BSP Realty Trust, Inc. has a 1-year low of $11.99 and a 1-year high of $14.66. The company has a debt-to-equity ratio of 3.54, a current ratio of 89.36 and a quick ratio of 89.36.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 10.48%. The ex-dividend date of this dividend is Monday, September 30th. Franklin BSP Realty Trust’s payout ratio is 107.58%.

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).