Franklin BSP Realty Trust (NYSE:FBRT) Raised to Strong-Buy at B. Riley

Franklin BSP Realty Trust (NYSE:FBRT) was upgraded by equities researchers at B. Riley to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Raymond James raised their target price on Franklin BSP Realty Trust from $15.00 to $15.50 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Janney Montgomery Scott initiated 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 objective for the company. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.50.

Franklin BSP Realty Trust Trading Down 0.9 %

NYSE FBRT opened at $12.33 on Tuesday. The company has a fifty day simple moving average of $12.87 and a two-hundred day simple moving average of $12.99. Franklin BSP Realty Trust has a 12-month low of $11.99 and a 12-month high of $14.11. The company has a current ratio of 90.45, a quick ratio of 90.45 and a debt-to-equity ratio of 3.67. The stock has a market cap of $1.01 billion, a P/E ratio of 15.04 and a beta of 1.39.

Institutional Trading of Franklin BSP Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. grew its stake in shares of Franklin BSP Realty Trust by 55.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 700,000 shares of the company’s stock worth $8,820,000 after purchasing an additional 250,000 shares during the period. Strong Tower Advisory Services grew its stake in Franklin BSP Realty Trust by 28.7% in the 3rd quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock worth $13,780,000 after acquiring an additional 235,548 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Franklin BSP Realty Trust by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,290 shares of the company’s stock worth $13,403,000 after buying an additional 117,745 shares during the period. State Street Corp boosted its position in shares of Franklin BSP Realty Trust by 3.6% in the third quarter. State Street Corp now owns 3,359,241 shares of the company’s stock worth $45,059,000 after acquiring an additional 116,589 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Franklin BSP Realty Trust by 62.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,148 shares of the company’s stock valued at $1,621,000 after purchasing an additional 47,650 shares during the last quarter. 59.87% of the stock is owned by hedge funds and other institutional investors.

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).