Franklin BSP Realty Trust (NYSE:FBRT) Given New $14.00 Price Target at BTIG Research

Franklin BSP Realty Trust (NYSE:FBRT) had its price target dropped by equities researchers at BTIG Research from $15.00 to $14.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 13.73% from the stock’s previous close.

A number of other brokerages have also recently commented on FBRT. Raymond James raised shares of Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Friday, April 12th. Jonestrading lowered their price objective on shares of Franklin BSP Realty Trust from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, JMP Securities upgraded shares of Franklin BSP Realty Trust from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 10th.

Franklin BSP Realty Trust Stock Performance

Shares of Franklin BSP Realty Trust stock traded up $0.10 during trading on Wednesday, reaching $12.31. The company’s stock had a trading volume of 152,826 shares, compared to its average volume of 349,766. The company has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $13.09. The firm has a market cap of $1.01 billion, a PE ratio of 8.72 and a beta of 1.43. Franklin BSP Realty Trust has a fifty-two week low of $11.73 and a fifty-two week high of $14.70. The company has a current ratio of 83.74, a quick ratio of 83.74 and a debt-to-equity ratio of 3.15.

Institutional Investors Weigh In On Franklin BSP Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Franklin BSP Realty Trust by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,201,330 shares of the company’s stock worth $99,098,000 after buying an additional 437,062 shares in the last quarter. State Street Corp boosted its position in shares of Franklin BSP Realty Trust by 0.3% in the 2nd quarter. State Street Corp now owns 3,134,606 shares of the company’s stock worth $45,489,000 after buying an additional 9,886 shares in the last quarter. Geode Capital Management LLC raised its stake in Franklin BSP Realty Trust by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,639,968 shares of the company’s stock valued at $23,222,000 after purchasing an additional 56,661 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Franklin BSP Realty Trust in the 1st quarter valued at about $16,702,000. Finally, Northern Trust Corp raised its stake in Franklin BSP Realty Trust by 40.3% in the 2nd quarter. Northern Trust Corp now owns 1,181,561 shares of the company’s stock valued at $16,731,000 after purchasing an additional 339,363 shares during the last quarter. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

Franklin BSP Realty Trust Company Profile

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).