Franklin BSP Realty Trust, Inc. FBRT R2K

Real Estate · REIT - Mortgage · United States

https://www.fbrtreit.com

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.

Market & Price

Market Cap

$667.27M

Current Price

$8.67

High / Low (52W)

$10.66 / $8.15

Beta

1.12

Valuation

Stock P/E

17.00

Industry PE

26.58

Forward P/E

7.20

PEG Ratio

Book Value

$14.67

Price to Book

0.59

P/S

2.34

EV/EBITDA

Dividend Yield

9.23%

Profitability & Returns

ROCE

1.47%

ROE

4.59%

ROA

1.22%

Profit Margin

24.60%

Op Margin

4.45%

EPS (Latest Qtr)

$0.07

EPS (TTM)

$0.51

Balance Sheet & Liquidity

Debt/Equity

2.93

Quick Ratio

1.15

Current Ratio

1.32

Debt

$4.59B

Total Assets

$6.06B

Current Assets

$5.04B

Working Capital

$4.77B

Ownership

Promoter Holding

1.59%

Chg in Prom Hold

FII / Inst Holding

68.15%

Chg in FII Hold

0.01%

Financial Snapshot

Enterprise Value

$5.55B

Total Revenue (TTM)

$285.38M

EBITDA

Free Cash Flow

Operating Cash Flow

$121.69M

Shares Outstanding

76.96M

Gross Margin

99.71%

Payout Ratio

248.04%

Growth (CAGR)

Revenue 5Y

10.90%

Profit 5Y

78.64%

Revenue (YoY)

6.10%

Earnings (YoY)

-65.00%

PROS

Excellent profit margin of 24.6%.
Compounding revenue at 10.9% over 5 years.
Profit CAGR of 78.6% over 5 years.
Attractive dividend yield of 9.23%.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Real Estate).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	FBRT Franklin BSP Realty Trust, Inc. R2K	8.67	17.00	$667.27M	9.23%	1.47%	4.59%	10.90%	78.64%
2	WELL Welltower Inc. SPX	205.33	99.19	$144.95B	1.44%	0.26%	3.67%	22.69%	87.90%
3	PLD Prologis, Inc. SPX	143.47	36.14	$133.76B	2.98%	4.94%	6.84%	13.74%	-0.36%
4	EQIX Equinix, Inc. SPX	1,068.04	74.07	$105.33B	1.84%	5.61%	10.06%	8.27%	24.18%
5	AMT American Tower Corporation SPX	186.96	30.11	$87.10B	3.73%	7.82%	29.95%	3.34%	12.73%
6	SPG Simon Property Group, Inc. SPX	204.91	14.25	$77.86B	4.29%	17.44%	113.59%	6.35%	29.32%
7	DLR Digital Realty Trust, Inc. SPX	190.00	50.53	$67.96B	2.57%	3.99%	5.69%	9.22%	51.32%
8	O Realty Income Corporation SPX	61.28	50.23	$57.14B	5.30%	3.27%	2.83%	19.80%	6.78%
9	PSA Public Storage SPX	303.69	31.34	$53.31B	3.95%	10.69%	20.18%	4.88%	-25.69%

Quarterly Results

Figures in USD.

Metric	Mar 2015	Jun 2015	Sep 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.02M	-	716.00K	716.00K	1.01M	2.31M	2.31M	2.31M	3.31M	6.44M	3.32M	4.71M	4.07M	-	120.59M	119.51M	136.62M	124.50M	118.28M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70.59M	70.21M	76.49M	71.03M	65.23M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49.99M	49.29M	60.13M	53.47M	53.05M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.21M	16.33M	58.41M	34.71M	57.71M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31.79M	32.97M	1.72M	18.77M	-4.66M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33.17M	34.35M	5.15M	22.17M	-1.24M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24.36M	24.25M	14.72M	24.65M	13.22M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	654.00K	-138.00K	-2.90M	6.27M	929.00K
Net Income	4.63M	4.30M	7.42M	9.42M	8.86M	5.37M	6.34M	6.05M	6.28M	6.97M	14.47M	5.30M	12.10M	19.00M	16.43M	19.89M	14.53M	25.91M	23.59M	-7.40M	7.81M	21.50M	32.84M	30.15M	30.01M	38.49M	-22.51M	-25.71M	35.26M	43.83M	39.60M	31.77M	35.92M	-2.17M	-	24.06M	23.20M	17.31M	17.70M	11.98M
Diluted EPS	0.27	0.20	0.28	0.30	0.28	0.17	0.20	0.19	0.20	0.22	0.46	0.17	0.38	0.49	0.37	0.40	0.27	0.48	0.44	-0.27	0.10	0.38	0.58	0.53	0.52	0.67	-0.99	-0.43	0.34	0.44	0.39	0.30	0.35	-0.11	0.30	0.20	0.19	0.12	-	0.07

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	3.17M	4.30M	-	367.36M	569.53M	548.92M	501.00M
Cost of Revenue	-	-	-	-	-	-	-	-	-	160.53M	305.58M	338.47M	288.33M
Gross Profit	-	-	-	-	-	-	-	-	-	206.83M	263.95M	210.45M	212.67M
Operating Expenses	-	-	-	-	-	-	-	-	-	105.69M	109.18M	99.67M	127.65M
Operating Income	-	-	-	-	-	-	-	-	-	101.14M	154.77M	110.78M	85.02M
EBITDA	-	-	-	-	-	-	-	-	-	106.55M	163.18M	116.41M	94.61M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	13.82M	141.75M	93.52M	87.97M
Tax Provision	-	-	-	-	-	-	-	-	-	-399.00K	-2.76M	1.12M	3.88M
Net Income	102.00K	5.42M	24.93M	29.99M	33.78M	52.83M	83.92M	54.75M	-	14.43M	145.22M	95.88M	82.27M
Diluted EPS	0.19	0.75	1.03	0.95	1.06	1.44	1.60	0.90	-	-0.38	1.42	0.82	0.64

Compounded Sales Growth

5 Years:	10.90%
1 Year:	6.10%

Compounded Profit Growth

5 Years:	78.64%
1 Year:	-65.00%

Stock Price Performance

1 Year:	-11.09%
6 Months:	-11.12%
3 Months:	-2.76%
1 Month:	-3.34%

Balance Sheet (Annual)

Figures in USD.

Metric	Nov 2012	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	941.19K	36.37M	514.22M	1.28B	1.25B	1.58B	2.61B	3.54B	3.19B	-	6.20B	5.96B	6.00B	6.06B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	5.75B	5.43B	5.39B	5.04B
Cash & Equivalents	0	1.00K	178.00K	386.00K	14.81M	118.05M	83.71M	191.39M	87.25M	82.07M	-	179.31M	337.60M	184.44M	167.29M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	5.32B	5.09B	5.20B	4.85B
Total Liabilities	-	756.72K	10.35M	183.71M	628.15M	614.48M	973.32M	1.73B	2.51B	2.18B	-	4.63B	4.37B	4.48B	4.53B
Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	522.14M	270.52M	303.88M	273.36M
Long Term Debt	-	0	7.30M	0	-	-	-	-	-	-	-	4.00B	4.01B	4.08B	4.06B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	4.45B	4.18B	4.31B	4.25B
Total Equity	-	184.47K	26.02M	330.51M	654.33M	633.65M	610.34M	733.23M	816.80M	798.44M	-	1.56B	1.56B	1.51B	1.44B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	82.99M	82.75M	83.07M	81.55M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	776.00K	2.69M	25.43M	35.02M	8.35M	7.10M	45.37M	115.33M	-	152.51M	197.39M	57.23M	291.94M
Investing Cash Flow	-35.76M	-471.64M	-749.85M	139.41M	-332.76M	-855.81M	-969.24M	240.69M	-	3.10B	380.81M	-155.47M	380.81M
Financing Cash Flow	35.16M	469.16M	738.84M	-71.54M	293.04M	961.43M	828.58M	-373.00M	-	-3.23B	-424.99M	-48.58M	-684.43M
Capital Expenditure	-	-	-	-	-	-	-	-	-	-	-	-	-360.00K
Free Cash Flow	-	-	-	-	-	-	-	-	-	152.51M	197.39M	57.23M	291.58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	22.29M	153.20M	-146.82M	-11.68M
Share Buybacks	35.00K	464.00K	2.56M	18.96M	20.55M	15.09M	13.81M	10.26M	11.42M	16.58M	12.51M	4.87M	14.37M
Dividends Paid	286.00K	7.59M	26.95M	40.25M	38.83M	36.95M	60.61M	49.79M	67.95M	139.41M	144.35M	144.91M	145.58M

Ratios (Annual)

Figures in %.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	56.3%	46.3%	38.3%	42.4%
Operating Margin %	-	-	-	-	-	-	-	-	-	27.5%	27.2%	20.2%	17.0%
Net Margin %	-	-	-	-	-	-	2,648.3%	1,273.5%	-	3.9%	25.5%	17.5%	16.4%
ROE %	0.4%	1.6%	3.8%	4.7%	5.5%	7.2%	10.3%	6.9%	-	0.9%	9.3%	6.3%	5.7%
ROCE %	-	-	-	-	-	-	-	-	-	1.8%	2.7%	1.9%	1.5%

Shareholding Pattern

Insiders

1.59%

Institutions

68.15%

Public Float

69.25%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	17.05%	13.12M	$113.77M
2	Vanguard Capital Management LLC	4.63%	3.56M	$30.87M
3	State Street Corporation	4.17%	3.21M	$27.83M
4	Mirae Asset Global ETFs Holdings Ltd.	4.02%	3.09M	$26.81M
5	Vanguard Portfolio Management LLC	3.62%	2.78M	$24.13M
6	Gratia Capital, LLC	2.96%	2.28M	$19.76M
7	Geode Capital Management, LLC	2.65%	2.04M	$17.70M
8	Invesco Ltd.	2.26%	1.74M	$15.08M
9	Franklin Resources, Inc.	1.95%	1.50M	$13.01M
10	Charles Schwab Investment Management, Inc.	1.58%	1.22M	$10.56M

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