Franklin BSP Realty Trust (NYSE:FBRT) PT Lowered to $14.00

Franklin BSP Realty Trust (NYSE:FBRT) had its target price decreased by BTIG Research from $15.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Raymond James raised Franklin BSP Realty Trust from an outperform rating to a strong-buy rating and set a $15.00 price objective on the stock in a research note on Friday, April 12th. Jonestrading cut their price target on Franklin BSP Realty Trust from $16.00 to $15.00 and set a buy rating for the company in a report on Friday, February 16th. Finally, JMP Securities upgraded Franklin BSP Realty Trust from a market perform rating to an outperform rating and set a $15.00 price target for the company in a report on Wednesday, January 10th.

Franklin BSP Realty Trust Stock Up 1.7 %

NYSE FBRT opened at $12.57 on Wednesday. The stock’s 50-day moving average price is $12.83 and its 200-day moving average price is $13.07. The company has a quick ratio of 83.74, a current ratio of 83.74 and a debt-to-equity ratio of 3.15. Franklin BSP Realty Trust has a 52 week low of $11.73 and a 52 week high of $14.70. The company has a market capitalization of $1.03 billion, a P/E ratio of 8.91 and a beta of 1.43.

Franklin BSP Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 11.30%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin BSP Realty Trust’s dividend payout ratio is presently 100.71%.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Franklin BSP Realty Trust by 70.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,881 shares of the company’s stock worth $39,000 after purchasing an additional 1,186 shares during the period. Quantbot Technologies LP purchased a new position in shares of Franklin BSP Realty Trust in the 1st quarter worth approximately $40,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Franklin BSP Realty Trust in the 1st quarter worth approximately $46,000. Captrust Financial Advisors purchased a new position in shares of Franklin BSP Realty Trust in the 2nd quarter worth approximately $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Franklin BSP Realty Trust in the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 59.87% of the company’s stock.

About Franklin BSP Realty Trust

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).