Thrivent Financial for Lutherans Sells 3,705 Shares of Franklin BSP Realty Trust, Inc. (NYSE:FBRT)

Thrivent Financial for Lutherans decreased its stake in Franklin BSP Realty Trust, Inc. (NYSE:FBRT) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,259 shares of the company’s stock after selling 3,705 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Franklin BSP Realty Trust were worth $839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. grew its position in 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 acquiring an additional 250,000 shares during the last quarter. Strong Tower Advisory Services increased its holdings in Franklin BSP Realty Trust by 28.7% in the third quarter. Strong Tower Advisory Services now owns 1,055,160 shares of the company’s stock worth $13,780,000 after purchasing an additional 235,548 shares in the last quarter. Van ECK Associates Corp lifted its stake in 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 buying an additional 166,120 shares during the period. RPS Advisory Solutions LLC bought a new position in shares of Franklin BSP Realty Trust during the 2nd quarter worth approximately $1,020,000. Finally, Cetera Investment Advisers increased its stake in shares of Franklin BSP Realty Trust by 115.5% in the 1st quarter. Cetera Investment Advisers now owns 131,616 shares of the company’s stock valued at $1,758,000 after acquiring an additional 70,549 shares in the last quarter. Institutional investors own 59.87% of the company’s stock.

Franklin BSP Realty Trust Stock Down 2.0 %

Shares of NYSE:FBRT opened at $12.84 on Wednesday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.45 and a current ratio of 90.45. Franklin BSP Realty Trust, Inc. has a 52-week low of $11.99 and a 52-week high of $14.66. The business’s 50 day simple moving average is $12.99 and its two-hundred day simple moving average is $12.99. The firm has a market cap of $1.05 billion, a P/E ratio of 15.65 and a beta of 1.40.

Franklin BSP Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 11.06%. The ex-dividend date was Monday, September 30th. Franklin BSP Realty Trust’s payout ratio is currently 173.17%.

Analyst Ratings Changes

Separately, Raymond James increased 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).