Gabelli Funds LLC Acquires New Position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Gabelli Funds LLC purchased a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRTFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 50,532 shares of the company’s stock, valued at approximately $669,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBRT. Raymond James Financial Services Advisors Inc. purchased a new position in Franklin BSP Realty Trust in the 1st quarter valued at $680,000. Bank of New York Mellon Corp lifted its holdings in Franklin BSP Realty Trust by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 374,100 shares of the company’s stock valued at $5,231,000 after purchasing an additional 10,905 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in 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 valued at $39,000 after purchasing an additional 1,186 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Franklin BSP Realty Trust in the 1st quarter valued at $851,000. Finally, MetLife Investment Management LLC lifted its holdings in Franklin BSP Realty Trust by 49.8% in the 1st quarter. MetLife Investment Management LLC now owns 21,555 shares of the company’s stock valued at $301,000 after purchasing an additional 7,167 shares in the last quarter. Hedge funds and other institutional investors own 59.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities upgraded Franklin BSP Realty Trust from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Wednesday, January 10th.

Get Our Latest Stock Report on FBRT

Franklin BSP Realty Trust Stock Up 1.0 %

NYSE FBRT opened at $12.41 on Friday. Franklin BSP Realty Trust, Inc. has a 52 week low of $11.08 and a 52 week high of $14.79. The company has a quick ratio of 83.78, a current ratio of 83.78 and a debt-to-equity ratio of 3.06. The business’s fifty day simple moving average is $13.50 and its 200-day simple moving average is $13.41. The firm has a market cap of $1.02 billion, a PE ratio of 8.99 and a beta of 1.45.

Franklin BSP Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were issued a $0.355 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.42 annualized dividend and a yield of 11.44%. Franklin BSP Realty Trust’s dividend payout ratio (DPR) is currently 102.90%.

Franklin BSP Realty Trust Company Profile

(Free Report)

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).

See Also

Want to see what other hedge funds are holding FBRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin BSP Realty Trust, Inc. (NYSE:FBRTFree Report).

Institutional Ownership by Quarter for Franklin BSP Realty Trust (NYSE:FBRT)

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