Franklin BSP Realty Trust, Inc. (NYSE:FBRT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,259 shares of the company’s stock after selling 1,000 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Franklin BSP Realty Trust worth $793,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. FMR LLC raised its position in Franklin BSP Realty Trust by 42.9% during the third quarter. FMR LLC now owns 2,623 shares of the company’s stock worth $34,000 after acquiring an additional 787 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Franklin BSP Realty Trust during the fourth quarter valued at $58,000. Intech Investment Management LLC purchased a new stake in shares of Franklin BSP Realty Trust during the third quarter worth about $168,000. Longboard Asset Management LP acquired a new position in shares of Franklin BSP Realty Trust in the fourth quarter valued at approximately $174,000. Finally, Hodges Capital Management Inc. purchased a new position in shares of Franklin BSP Realty Trust during the third quarter valued at approximately $189,000. 59.87% of the stock is owned by institutional investors and hedge funds.

Franklin BSP Realty Trust Trading Down 0.1 %

Shares of NYSE FBRT opened at $12.72 on Thursday. The business has a 50 day simple moving average of $13.03 and a 200 day simple moving average of $12.95. Franklin BSP Realty Trust, Inc. has a 52 week low of $11.96 and a 52 week high of $14.12. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 15.33 and a beta of 1.37. The company has a debt-to-equity ratio of 3.42, a quick ratio of 90.45 and a current ratio of 84.89.

Franklin BSP Realty Trust (NYSE:FBRT) last released its earnings results on Thursday, February 13th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Franklin BSP Realty Trust had a net margin of 45.56% and a return on equity of 8.17%. The firm had revenue of $55.95 million during the quarter, compared to analyst estimates of $49.28 million. On average, research analysts predict that Franklin BSP Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Franklin BSP Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $0.355 per share. The ex-dividend date is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 11.16%. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is presently 171.08%.

Analyst Upgrades and Downgrades

FBRT has been the subject of several analyst reports. Citigroup reiterated an “outperform” rating on shares of Franklin BSP Realty Trust in a research note on Wednesday, March 12th. Jones Trading reiterated a “buy” rating and issued a $15.00 price target on shares of Franklin BSP Realty Trust in a report on Tuesday, March 11th. B. Riley upgraded Franklin BSP Realty Trust to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Janney Montgomery Scott started coverage on Franklin BSP Realty Trust in a research report on Thursday, December 12th. They issued a “buy” rating and a $16.00 target price on the stock. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.50.

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).