Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Position Reduced by Ignite Planners LLC

Ignite Planners LLC cut its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,199 shares of the company’s stock after selling 2,400 shares during the quarter. Ignite Planners LLC’s holdings in Franklin BSP Realty Trust were worth $225,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cetera Advisors LLC lifted 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 valued at $1,235,000 after buying an additional 59,586 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Franklin BSP Realty Trust during the first quarter valued at about $6,012,000. Gabelli Funds LLC lifted its stake in Franklin BSP Realty Trust by 54.6% during the first quarter. Gabelli Funds LLC now owns 130,000 shares of the company’s stock valued at $1,737,000 after buying an additional 45,901 shares in the last quarter. Vanguard Group Inc. lifted its stake in Franklin BSP Realty Trust by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock valued at $119,886,000 after buying an additional 48,171 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Franklin BSP Realty Trust by 115.5% in the 1st 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. 59.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James upped their target price on 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. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of Franklin BSP Realty Trust in a report on Thursday, June 27th. Finally, BTIG Research reiterated 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 Trading Down 0.4 %

NYSE:FBRT opened at $12.59 on Wednesday. The stock’s 50 day moving average price is $13.06 and its 200 day moving average price is $12.94. Franklin BSP Realty Trust, Inc. has a 52 week low of $11.99 and a 52 week high of $14.66. The company has a market capitalization of $1.03 billion, a P/E ratio of 9.54 and a beta of 1.42. The company has a debt-to-equity ratio of 3.54, a quick ratio of 89.36 and a current ratio of 89.36.

Franklin BSP Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 11.28%. Franklin BSP Realty Trust’s dividend payout ratio is currently 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).