Franklin BSP Realty Trust (NYSE:FBRT) Price Target Cut to $14.00 by Analysts at BTIG Research

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

Other equities research analysts have also issued research reports about the stock. JMP Securities upgraded shares of 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. Jonestrading cut their price objective on shares of Franklin BSP Realty Trust from $16.00 to $15.00 and set a buy rating on the stock in a research report on Friday, February 16th. Finally, Raymond James raised shares of 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 report on Friday, April 12th.

Franklin BSP Realty Trust Trading Up 0.1 %

NYSE:FBRT opened at $12.22 on Wednesday. Franklin BSP Realty Trust has a one year low of $11.73 and a one year high of $14.70. The company has a debt-to-equity ratio of 3.15, a quick ratio of 83.74 and a current ratio of 83.74. The firm has a market cap of $1.00 billion, a P/E ratio of 8.67 and a beta of 1.43. The firm has a 50-day simple moving average of $12.83 and a 200-day simple moving average of $13.08.

Franklin BSP Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 11.62%. The ex-dividend date was Wednesday, March 27th. Franklin BSP Realty Trust’s payout ratio is 100.71%.

Hedge Funds Weigh In On Franklin BSP Realty Trust

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Franklin BSP Realty Trust by 70.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,881 shares of the company’s stock worth $39,000 after acquiring an additional 1,186 shares during the period. Quantbot Technologies LP acquired a new position in Franklin BSP Realty Trust during the first quarter worth $40,000. Kathleen S. Wright Associates Inc. acquired a new position in Franklin BSP Realty Trust during the first quarter worth $46,000. Captrust Financial Advisors acquired a new position in Franklin BSP Realty Trust during the second quarter worth $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Franklin BSP Realty Trust during the second quarter worth $74,000. 59.87% of the stock is currently owned by institutional investors and hedge funds.

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).