Cambridge Investment Research Advisors Inc. lifted its stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Get Rating) by 19.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,643 shares of the company's stock after buying an additional 11,100 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.08% of Franklin BSP Realty Trust worth $729,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FBRT. Franklin Resources Inc. raised its position in Franklin BSP Realty Trust by 333.8% in the second quarter. Franklin Resources Inc. now owns 2,188,616 shares of the company's stock worth $29,503,000 after purchasing an additional 1,684,063 shares in the last quarter. State Street Corp raised its position in Franklin BSP Realty Trust by 92.6% in the second quarter. State Street Corp now owns 2,757,859 shares of the company's stock worth $38,102,000 after purchasing an additional 1,326,061 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Franklin BSP Realty Trust in the first quarter worth about $16,702,000. Vanguard Group Inc. raised its position in Franklin BSP Realty Trust by 28.9% in the first quarter. Vanguard Group Inc. now owns 4,624,886 shares of the company's stock worth $64,655,000 after purchasing an additional 1,036,299 shares in the last quarter. Finally, Orchard Capital Managment LLC acquired a new position in Franklin BSP Realty Trust in the first quarter worth about $7,404,000. Institutional investors and hedge funds own 57.41% of the company's stock.
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NYSE FBRT opened at $13.59 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -4.01 and a beta of 1.44. The company has a 50 day moving average of $13.85 and a 200-day moving average of $13.58. The company has a current ratio of 58.30, a quick ratio of 58.30 and a debt-to-equity ratio of 3.32. Franklin BSP Realty Trust, Inc. has a 1-year low of $10.34 and a 1-year high of $16.20.
Franklin BSP Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 10.45%. The ex-dividend date of this dividend is Thursday, December 29th. Franklin BSP Realty Trust's payout ratio is -41.89%.Analysts Set New Price Targets
Separately, B. Riley began coverage on shares of Franklin BSP Realty Trust in a research report on Wednesday, September 28th. They issued a "buy" rating and a $16.00 price target for the company.
About Franklin BSP Realty Trust
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Franklin BSP Realty Trust, Inc, a real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt secured by properties located in the United States. The company also originates conduit loans; and invests in commercial real estate securities, as well as owns real estate acquired through foreclosure and deed in lieu of foreclosure, and purchased for investment.
Further Reading
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