Raymond James Raises Franklin BSP Realty Trust (NYSE:FBRT) Price Target to $15.50

Franklin BSP Realty Trust (NYSE:FBRT) had its target price lifted by Raymond James from $15.00 to $15.50 in a report released on Thursday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

FBRT has been the subject of several other reports. JMP Securities restated a market outperform rating and issued a $15.00 price target on shares of Franklin BSP Realty Trust in a research note on Thursday, June 27th. BTIG Research restated a buy rating and set a $16.00 target price on shares of Franklin BSP Realty Trust in a research report on Friday, July 19th.

Franklin BSP Realty Trust Stock Performance

NYSE FBRT opened at $13.55 on Thursday. The company has a quick ratio of 89.36, a current ratio of 89.36 and a debt-to-equity ratio of 3.54. Franklin BSP Realty Trust has a twelve month low of $11.99 and a twelve month high of $14.66. The business has a 50-day moving average price of $13.19 and a 200-day moving average price of $12.94. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 10.27 and a beta of 1.42.

Franklin BSP Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 10.48%. The ex-dividend date of this dividend is Monday, September 30th. Franklin BSP Realty Trust’s payout ratio is 107.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in Franklin BSP Realty Trust by 15.4% in the fourth quarter. Victory Capital Management Inc. now owns 16,828 shares of the company’s stock worth $227,000 after purchasing an additional 2,250 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Franklin BSP Realty Trust by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 670,299 shares of the company’s stock worth $9,056,000 after buying an additional 11,998 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Franklin BSP Realty Trust in the 4th quarter worth about $644,000. SageView Advisory Group LLC raised its position in shares of Franklin BSP Realty Trust by 79.8% during the 4th quarter. SageView Advisory Group LLC now owns 20,768 shares of the company’s stock valued at $275,000 after buying an additional 9,218 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Franklin BSP Realty Trust by 66.4% in the 4th quarter. Gabelli Funds LLC now owns 84,099 shares of the company’s stock valued at $1,136,000 after acquiring an additional 33,567 shares during the last quarter. 59.87% of the stock is currently owned by institutional investors.

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).