ProShare Advisors LLC Reduces Position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

ProShare Advisors LLC reduced its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 23.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,777 shares of the company’s stock after selling 3,967 shares during the period. ProShare Advisors LLC’s holdings in Franklin BSP Realty Trust were worth $161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp lifted its holdings in Franklin BSP Realty Trust by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,829 shares of the company’s stock worth $960,000 after buying an additional 961 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Franklin BSP Realty Trust by 7.8% in the second quarter. Arkadios Wealth Advisors now owns 20,867 shares of the company’s stock valued at $263,000 after purchasing an additional 1,509 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Franklin BSP Realty Trust in the first quarter valued at approximately $46,000. Van ECK Associates Corp increased its stake in Franklin BSP Realty Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 493,681 shares of the company’s stock valued at $6,596,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Franklin BSP Realty Trust by 16.8% during the second quarter. Sei Investments Co. now owns 26,954 shares of the company’s stock worth $340,000 after purchasing an additional 3,873 shares in the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

Franklin BSP Realty Trust Stock Performance

Shares of Franklin BSP Realty Trust stock opened at $12.82 on Friday. The firm’s fifty day simple moving average is $13.08 and its 200-day simple moving average is $12.95. Franklin BSP Realty Trust, Inc. has a 12 month low of $11.99 and a 12 month high of $14.66. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 9.71 and a beta of 1.42. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be issued a $0.355 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 11.08%. Franklin BSP Realty Trust’s payout ratio is 107.58%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FBRT. Raymond James upped their target price on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. BTIG Research restated 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of Franklin BSP Realty Trust in a research report on Thursday, June 27th.

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).