Goldman Sachs Group Inc. cut its position in Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 324,007 shares of the company’s stock after selling 9,564 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Franklin BSP Realty Trust were worth $4,128,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Savvy Advisors Inc. acquired a new stake in shares of Franklin BSP Realty Trust in the 1st quarter worth approximately $377,000. Bank of New York Mellon Corp lifted its stake in shares of Franklin BSP Realty Trust by 24.2% in the 1st quarter. Bank of New York Mellon Corp now owns 714,485 shares of the company’s stock worth $9,103,000 after acquiring an additional 139,417 shares during the period. GAMMA Investing LLC lifted its stake in shares of Franklin BSP Realty Trust by 1,683.5% in the 1st quarter. GAMMA Investing LLC now owns 4,637 shares of the company’s stock worth $59,000 after acquiring an additional 4,377 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Franklin BSP Realty Trust by 20.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 149,083 shares of the company’s stock worth $1,870,000 after acquiring an additional 24,935 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Franklin BSP Realty Trust by 51.0% in the 4th quarter. Deutsche Bank AG now owns 74,962 shares of the company’s stock worth $940,000 after purchasing an additional 25,322 shares in the last quarter. 59.87% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
Separately, Jones Trading dropped their target price on shares of Franklin BSP Realty Trust from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Franklin BSP Realty Trust currently has an average rating of “Buy” and a consensus price target of $14.88.
Read Our Latest Analysis on FBRT
Franklin BSP Realty Trust Price Performance
NYSE FBRT opened at $11.26 on Thursday. The company has a current ratio of 81.24, a quick ratio of 81.24 and a debt-to-equity ratio of 3.21. The company has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $11.42. The company has a market cap of $926.23 million, a P/E ratio of 11.49 and a beta of 1.04. Franklin BSP Realty Trust, Inc. has a 1 year low of $9.79 and a 1 year high of $13.74.
Franklin BSP Realty Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 12.6%. The ex-dividend date is Tuesday, September 30th. Franklin BSP Realty Trust’s dividend payout ratio is presently 144.90%.
About Franklin BSP Realty Trust
(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).
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