Apollon Wealth Management LLC Makes New Investment in Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Apollon Wealth Management LLC acquired a new stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) in the 3rd quarter, HoldingsChannel reports. The fund acquired 20,922 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Franklin BSP Realty Trust by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,973,474 shares of the company’s stock worth $119,886,000 after buying an additional 48,171 shares during the last quarter. Strong Tower Advisory Services raised 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 valued at $13,780,000 after acquiring an additional 235,548 shares during the period. Bank of New York Mellon Corp lifted its holdings in Franklin BSP Realty Trust by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 702,184 shares of the company’s stock valued at $8,848,000 after purchasing an additional 39,000 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Franklin BSP Realty Trust by 55.6% during the second 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. Finally, Van ECK Associates Corp increased its holdings 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 valued at $8,313,000 after purchasing an additional 166,120 shares during the last quarter. 59.87% of the stock is owned by institutional investors.

Franklin BSP Realty Trust Stock Performance

NYSE:FBRT opened at $12.86 on Tuesday. The stock has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $12.99. The stock has a market cap of $1.05 billion, a P/E ratio of 15.68 and a beta of 1.41. Franklin BSP Realty Trust, Inc. has a 1-year low of $11.99 and a 1-year high of $14.66. The company has a current ratio of 90.45, a quick ratio of 90.45 and a debt-to-equity ratio of 3.67.

Franklin BSP Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 11.04%. The ex-dividend date was Monday, September 30th. Franklin BSP Realty Trust’s dividend payout ratio is currently 173.17%.

Analyst Ratings Changes

Separately, Raymond James raised their target price on shares of Franklin BSP Realty Trust from $15.00 to $15.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th.

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).