Franklin BSP Realty Trust (NYSE:FBRT) Stock Gets Downgrade from Zacks Research

Franklin BSP Realty Trust (NYSE:FBRT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

A number of other research analysts have also weighed in on the company. Citigroup reissued a “market outperform” rating on shares of Franklin BSP Realty Trust in a report on Wednesday, September 23rd. UBS Group set a $10.00 target price on Franklin BSP Realty Trust in a report on Wednesday, September 23rd. JonesTrading reiterated a “buy” rating and issued a $12.00 target price on shares of Franklin BSP Realty Trust in a research report on Friday, September 11th. Citizens Jmp reiterated a “market outperform” rating and issued a $11.00 price target on shares of Franklin BSP Realty Trust in a report on Monday, July 6th. Finally, Weiss Ratings lowered shares of Franklin BSP Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.00.

Franklin BSP Realty Trust Price Performance

Shares of FBRT opened at $6.17 on Wednesday. The firm has a market capitalization of $511.94 million, a PE ratio of -77.05 and a beta of 0.97. The company has a debt-to-equity ratio of 3.47, a current ratio of 96.80 and a quick ratio of 96.80. Franklin BSP Realty Trust has a 1-year low of $5.90 and a 1-year high of $10.82. The company’s fifty day moving average price is $7.17 and its 200-day moving average price is $8.38.

Franklin BSP Realty Trust (NYSE:FBRT) last issued its earnings results on Wednesday, October 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.27). Franklin BSP Realty Trust had a return on equity of 4.18% and a net margin of 6.38%. The firm had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $72.54 million. On average, equities research analysts predict that Franklin BSP Realty Trust will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Franklin BSP Realty Trust

A number of institutional investors have recently modified their holdings of FBRT. PNC Financial Services Group Inc. raised its position in Franklin BSP Realty Trust by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,054 shares of the company’s stock valued at $94,000 after acquiring an additional 1,480 shares in the last quarter. Concorde Asset Management LLC boosted its position in Franklin BSP Realty Trust by 10.5% in the 2nd quarter. Concorde Asset Management LLC now owns 16,900 shares of the company’s stock worth $141,000 after purchasing an additional 1,600 shares in the last quarter. Bessemer Group Inc. boosted its position in Franklin BSP Realty Trust by 96.3% in the 1st quarter. Bessemer Group Inc. now owns 5,471 shares of the company’s stock worth $46,000 after purchasing an additional 2,684 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Franklin BSP Realty Trust by 42.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 16,553 shares of the company’s stock worth $141,000 after purchasing an additional 4,946 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Franklin BSP Realty Trust during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 59.87% of the company’s stock.

About Franklin BSP Realty Trust

Franklin BSP Realty Trust (NYSE: FBRT) is a real estate investment trust focused on commercial real estate finance. The company originates, acquires and manages a diversified portfolio of commercial real estate debt investments, with an emphasis on loans secured by properties in the United States.

Its investment activities primarily include senior mortgage loans, subordinate and mezzanine loans, preferred equity investments and other debt-related instruments. The portfolio is designed to provide financing to owners and operators of commercial properties across sectors such as multifamily, office, industrial, retail, hospitality and other specialty real estate.

Franklin BSP Realty Trust was formerly known as Benefit Street Partners Realty Trust and operates under the Franklin BSP platform.