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Franklin BSP Realty Trust, Inc. (FBRT)

Real Estate | REIT - Mortgage | New York, United States | NYSE
7.99 USD -0.09 (-1.114%) ⇩ (July 13, 2026, 4 p.m. EDT)
After hours: 8.09 +0.10 (1.252%) ⇧ (July 13, 2026, 7:56 p.m. EDT)

Short-term:★⯪☆☆☆Long-term:★☆☆☆☆Dividends:★⯪☆☆☆
Hot Take | July 11, 2026, 6:55 a.m. EDT

The investment case for Franklin BSP Realty Trust has fractured under the weight of deteriorating fundamentals and a punishing price trajectory. While the headline 14% dividend yield looks attractive on paper, it is a trap built on a payout ratio of 248%, meaning the company is distributing nearly 2.5 times its earnings. This is not sustainable income; it is capital destruction disguised as yield. The business itself is struggling, with earnings contracting by 65% and revenue growth barely clinging to life at 6%. More critically, the market has already priced in this decline, evidenced by a 20% drop over the last three years. The stock is now trading at a forward P/E of roughly 6.7, which appears cheap but reflects a reality where the company is generating significantly less profit than it did a few years ago. The recent news of dividend cuts confirms that the board is forced to slash payouts to match the shrinking cash flow. Technically, the stock is trapped between heavy resistance at the 52-week high and a psychological floor around the current price. The options market agrees with the bearish thesis, with traders betting on further downside protection rather than a rally. Until the payout ratio normalizes and earnings growth turns positive, this remains a speculative hold for distressed investors, not a viable long-term compounding vehicle.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
MSTL_66_118 ✓0.036297
MSTL_1180.038636
AutoTheta0.043477
AutoETS0.046876
MSTL0.046920
AutoARIMA0.046920
MSTL_660.047166

Forecast horizon: 60 days | Selected: MSTL_66_118

Forecast Reliability
Score 51%
H-stat 1.76
Ljung-Box p 0.000
Jarque-Bera p 0.120
Excess Kurtosis -1.26
Attribute Value
Sector Real Estate
Ex Dividend Date 2026-06-29
Last Dividend Date 2026-06-29
Debt to Equity Ratio 292.687
Revenue per Share 3.504
Market Cap 614,934,400
Trailing P/E 15.67
Forward P/E 6.63
Beta 1.09
Profit Margins 24.60%
Previous Name Benefit Street Partners Realty Trust, Inc.
Website https://www.fbrtreit.com

As of July 11, 2026, 6:55 a.m. EDT: Speculators are positioning for continued weakness rather than a rebound. Call volume is heavily skewed toward out-of-the-money strikes (10.0 and 9.0), indicating a desire for a significant upside move that hasn't materialized yet, while put open interest concentrates at the 8.0 strike, acting as a defensive floor. The massive disparity in call volume versus open interest suggests aggressive buying of cheap volatility, whereas put activity is minimal and mostly passive holding of existing positions.


Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
2.46% 11.62% 11.32%
Dividend History
Date Dividend Yield %
2026-06-30 0.200 2.457002
2026-03-31 0.200 2.355713
2025-12-31 0.355 3.539382
2025-09-30 0.355 3.268877
2025-06-30 0.355 3.320861
2025-03-31 0.355 2.786499
2024-12-31 0.355 2.830941
2024-09-30 0.355 2.718223
2024-06-28 0.355 2.817460
2024-03-27 0.355 2.697568
2023-12-28 0.355 2.563177
2023-09-28 0.355 2.616065
2023-06-29 0.355 2.514164
2023-03-30 0.355 3.089643
2022-12-29 0.355 2.754073
2022-09-29 0.355 3.330206
2022-06-29 0.355 2.653214
2022-03-30 0.355 2.566884
2021-12-30 0.285 1.892430
Additional Data
dividendRate 1.11
dividendYield 13.74
exDividendDate 2026-06-30
trailingAnnualDividendRate 1.265
trailingAnnualDividendYield 0.15655941
lastDividendValue 0.2
lastDividendDate 2026-06-30
dividendDate 2026-07-10

Info Dump

Attribute Value
52 Week Change -0.26210046
Address1 1 Madison Avenue
Address2 Suite 1600
All Time High 17.74
All Time Low 7.745
Ask 8.5
Ask Size 500
Audit Risk 4
Average Analyst Rating 1.6 - Buy
Average Daily Volume10 Day 1,232,520
Average Daily Volume3 Month 1,016,877
Average Volume 1,016,877
Average Volume10Days 1,232,520
Beta 1.094
Bid 7.99
Bid Size 3,200
Board Risk 6
Book Value 14.67
City New York
Compensation Risk 6
Country United States
Crypto Tradeable 0
Currency USD
Current Price 7.99
Current Ratio 1.316
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 8.11
Day Low 7.905
Debt To Equity 292.687
Display Name Franklin BSP Realty Trust
Dividend Date 1,783,641,600
Dividend Rate 1.11
Dividend Yield 13.74
Earnings Call Timestamp End 1,777,554,000
Earnings Call Timestamp Start 1,777,554,000
Earnings Growth -0.65
Earnings Quarterly Growth -0.502
Earnings Timestamp 1,777,492,800
Earnings Timestamp End 1,785,355,200
Earnings Timestamp Start 1,785,355,200
Ebitda Margins 0.0
Enterprise To Revenue 19.276
Enterprise Value 5,500,875,264
Eps Current Year 0.92
Eps Forward 1.205
Eps Trailing Twelve Months 0.51
Esg Populated 0
Ex Dividend Date 1,782,777,600
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 8.5292
Fifty Day Average Change -0.5391998
Fifty Day Average Change Percent -0.0632181
Fifty Two Week Change Percent -26.210045
Fifty Two Week High 11.84
Fifty Two Week High Change -3.8500004
Fifty Two Week High Change Percent -0.32516894
Fifty Two Week Low 7.745
Fifty Two Week Low Change 0.24499989
Fifty Two Week Low Change Percent 0.0316333
Fifty Two Week Range 7.745 - 11.84
Financial Currency USD
First Trade Date Milliseconds 1,634,650,200,000
Float Shares 75,600,764
Forward Eps 1.205
Forward P E 6.630705
Full Exchange Name NYSE
Full Time Employees 243
Gmt Off Set Milliseconds -14,400,000
Governance Epoch Date 1,782,864,000
Gross Margins 0.99711996
Gross Profits 284,552,000
Has Pre Post Market Data 1
Held Percent Insiders 0.01658
Held Percent Institutions 0.6797
Implied Shares Outstanding 76,963,009
Industry REIT - Mortgage
Industry Disp REIT - Mortgage
Industry Key reit-mortgage
Is Earnings Date Estimate 1
Language en-US
Last Dividend Date 1,782,777,600
Last Dividend Value 0.2
Last Fiscal Year End 1,767,139,200
Long Business Summary Franklin BSP Realty Trust, Inc., a real estate finance company, originates and manages a diversified portfolio of commercial real estate debt investments through a REIT structure in the United States and internationally. The company operates through Real Estate Debt Business; Agency Business; Commercial Real Estate Conduit Business; and Real Estate Owned Business segments. The Real Estate Debt Business focuses on originating, acquiring, and asset managing commercial real estate debt investments, including first mortgages, subordinate mortgages, mezzanine loans, and participations in such loans and focuses on investing in and asset managing real estate securities. The Agency Business focuses on originating, selling, and servicing loans under programs offered by government-sponsored enterprises and agencies. The Commercial Real Estate Conduit Business is focused on generating risk-adjusted returns by originating and selling fixed-rate commercial real estate loans. The Real Estate Owned Business represents real estate acquired by the company through foreclosure, deed-in-lieu of foreclosure, and purchase. It also originates conduit loans. Franklin BSP Realty Trust, Inc. was formerly known as Benefit Street Partners Realty Trust, Inc. and changed its name to Franklin BSP Realty Trust, Inc. in October 2021. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.
Long Name Franklin BSP Realty Trust, Inc.
Market us_market
Market Cap 614,934,400
Market State PREPRE
Max Age 86,400
Message Board Id finmb_226559957
Most Recent Quarter 1,774,915,200
Name Change Date 2,026-07-13
Net Income To Common 42,164,000
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 621,861,112
Number Of Analyst Opinions 4
Open 8.06
Operating Cashflow 121,690,000
Operating Margins 0.04453
Overall Risk 6
Payout Ratio 2.4803998
Phone 212 588 6770
Post Market Change 0.10000038
Post Market Change Percent 1.2515693
Post Market Price 8.09
Post Market Time 1,783,987,004
Prev Name Benefit Street Partners Realty Trust, Inc.
Previous Close 8.08
Price Eps Current Year 8.684782
Price Hint 2
Price To Book 0.54464895
Price To Sales Trailing12 Months 2.1548293
Profit Margins 0.24597
Quick Ratio 1.154
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key buy
Recommendation Mean 1.6
Region US
Regular Market Change -0.0900002
Regular Market Change Percent -1.11386
Regular Market Day High 8.11
Regular Market Day Low 7.905
Regular Market Day Range 7.905 - 8.11
Regular Market Open 8.06
Regular Market Previous Close 8.08
Regular Market Price 7.99
Regular Market Time 1,783,972,802
Regular Market Volume 885,220
Return On Assets 0.012159999
Return On Equity 0.04592
Revenue Growth 0.061
Revenue Per Share 3.504
Sand P52 Week Change 0.20847368
Sector Real Estate
Sector Disp Real Estate
Sector Key real-estate
Share Holder Rights Risk 6
Shares Outstanding 76,963,009
Shares Percent Shares Out 0.0689
Shares Short 5,302,662
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 5,765,571
Short Name Franklin BSP Realty Trust, Inc.
Short Percent Of Float 0.0844
Short Ratio 3.93
Source Interval 15
State NY
Symbol FBRT
Target High Price 16.0
Target Low Price 11.0
Target Mean Price 13.0
Target Median Price 12.5
Total Cash 145,708,000
Total Cash Per Share 1.893
Total Debt 4,594,580,992
Total Revenue 285,375,008
Tradeable 0
Trailing Annual Dividend Rate 1.265
Trailing Annual Dividend Yield 0.15655941
Trailing Eps 0.51
Trailing P E 15.666667
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 9.5501
Two Hundred Day Average Change -1.5601006
Two Hundred Day Average Change Percent -0.1633596
Type Disp Equity
Volume 885,220
Website https://www.fbrtreit.com
Zip 10,010