Van ECK Associates Corp reduced its position in shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT – Get Rating) by 21.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,074 shares of the company's stock after selling 106,587 shares during the period. Van ECK Associates Corp owned approximately 0.45% of Franklin BSP Realty Trust worth $4,093,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. ACG Wealth purchased a new position in shares of Franklin BSP Realty Trust during the 2nd quarter valued at $29,000. CoreCap Advisors LLC purchased a new position in shares of Franklin BSP Realty Trust during the 2nd quarter valued at $30,000. PNC Financial Services Group Inc. grew its position in Franklin BSP Realty Trust by 70.0% in 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 in the last quarter. Quantbot Technologies LP purchased a new position in Franklin BSP Realty Trust in the first quarter worth $40,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Franklin BSP Realty Trust in the second quarter worth $41,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.
Get Franklin BSP Realty Trust alerts:Franklin BSP Realty Trust Stock Up 1.0 %
Shares of NYSE:FBRT opened at $13.68 on Thursday. Franklin BSP Realty Trust, Inc. has a 52-week low of $10.34 and a 52-week high of $16.20. The firm has a fifty day moving average of $13.85 and a 200 day moving average of $13.56. The firm has a market capitalization of $1.13 billion, a PE ratio of -4.04 and a beta of 1.44. The company has a debt-to-equity ratio of 3.32, a quick ratio of 58.30 and a current ratio of 58.30.
Franklin BSP Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 10.38%. The ex-dividend date of this dividend was Thursday, December 29th. Franklin BSP Realty Trust's dividend payout ratio is presently -41.89%.Analyst Upgrades and Downgrades
Separately, B. Riley initiated 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 target price for the company.
Franklin BSP Realty Trust Company Profile
(Get Rating)
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.
See Also
- Get a free copy of the StockNews.com research report on Franklin BSP Realty Trust (FBRT)
- Bloom Energy Powers Up After an Upgrade, is it Worth the Risk?
- Why Hershey Is a Sweet Recession Stock
- Will Amazon Stock Be Delivering for Investors in 2023?
- The Analysts Shift Trucking Sentiment Back into Forward
- The Institutions Book A Flight With Boeing
Receive News & Ratings for Franklin BSP Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin BSP Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.