Franklin BSP Realty Trust (NYSE:FBRT) Shares Gap Up - Here's Why

Franklin BSP Realty Trust, Inc. (NYSE:FBRT - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $12.16, but opened at $12.49. Franklin BSP Realty Trust shares last traded at $12.52, with a volume of 75,185 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James boosted their price target on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Janney Montgomery Scott began coverage on shares of Franklin BSP Realty Trust in a research note on Thursday, December 12th. They set a "buy" rating and a $16.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $15.50.

Franklin BSP Realty Trust Price Performance

The company has a 50 day moving average of $12.96 and a 200 day moving average of $13.01. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 15.29 and a beta of 1.40. The company has a quick ratio of 90.45, a current ratio of 90.45 and a debt-to-equity ratio of 3.67.

Franklin BSP Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date is Tuesday, December 31st. Franklin BSP Realty Trust's dividend payout ratio is currently 173.17%.

Institutional Investors Weigh In On Franklin BSP Realty Trust

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of Franklin BSP Realty Trust by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 702,184 shares of the company's stock worth $8,848,000 after purchasing an additional 39,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Franklin BSP Realty Trust by 52.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,141 shares of the company's stock worth $266,000 after buying an additional 7,280 shares during the period. Commonwealth Equity Services LLC grew its stake in Franklin BSP Realty Trust by 13.6% during the second quarter. Commonwealth Equity Services LLC now owns 32,561 shares of the company's stock worth $410,000 after buying an additional 3,886 shares during the period. Van ECK Associates Corp increased its position in shares of Franklin BSP Realty Trust by 33.6% in the second quarter. Van ECK Associates Corp now owns 659,801 shares of the company's stock worth $8,313,000 after acquiring an additional 166,120 shares in the last quarter. Finally, Magnus Financial Group LLC raised its stake in shares of Franklin BSP Realty Trust by 26.6% in the 2nd quarter. Magnus Financial Group LLC now owns 29,575 shares of the company's stock valued at $373,000 after acquiring an additional 6,208 shares during the period. 59.87% of the stock is owned by institutional investors and hedge funds.

About Franklin BSP Realty Trust

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).