State of Alaska Department of Revenue Reduces Holdings in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

State of Alaska Department of Revenue reduced its stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,697 shares of the company’s stock after selling 1,371 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Franklin BSP Realty Trust worth $609,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Franklin BSP Realty Trust by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock valued at $119,886,000 after purchasing an additional 48,171 shares during the last quarter. Strong Tower Advisory Services boosted its position in Franklin BSP Realty Trust by 28.7% in the third quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock valued at $13,780,000 after buying an additional 235,548 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Franklin BSP Realty Trust by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 702,184 shares of the company’s stock valued at $8,848,000 after buying an additional 39,000 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Franklin BSP Realty Trust by 55.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 700,000 shares of the company’s stock worth $8,820,000 after buying an additional 250,000 shares during the period. Finally, Van ECK Associates Corp raised its position in Franklin BSP Realty Trust by 33.6% during the 2nd quarter. Van ECK Associates Corp now owns 659,801 shares of the company’s stock worth $8,313,000 after buying an additional 166,120 shares during the last quarter. 59.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James upped their price objective 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 reaffirmed a “buy” rating and issued a $16.00 price target on shares of Franklin BSP Realty Trust in a report on Friday, July 19th.

Franklin BSP Realty Trust Trading Up 0.8 %

Franklin BSP Realty Trust stock opened at $13.31 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of 16.23 and a beta of 1.41. Franklin BSP Realty Trust, Inc. has a 12 month low of $11.99 and a 12 month high of $14.66. The stock’s 50 day simple moving average is $13.11 and its two-hundred day simple moving average is $12.97. The company has a current ratio of 89.36, a quick ratio of 89.36 and a debt-to-equity ratio of 3.54.

Franklin BSP Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.42 annualized dividend and a yield of 10.67%. Franklin BSP Realty Trust’s dividend payout ratio is presently 173.17%.

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).