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

Franklin BSP Realty Trust (NYSE:FBRT) had its target price cut by analysts at BTIG Research from $15.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 13.73% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. JMP Securities raised Franklin BSP Realty Trust from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, January 10th. Jonestrading reduced their price target on Franklin BSP Realty Trust from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Raymond James raised Franklin BSP Realty Trust from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research report on Friday, April 12th.

Franklin BSP Realty Trust Stock Up 0.8 %

Shares of FBRT stock traded up $0.10 on Wednesday, hitting $12.31. 152,826 shares of the stock were exchanged, compared to its average volume of 349,766. The company has a current ratio of 83.74, a quick ratio of 83.74 and a debt-to-equity ratio of 3.15. The firm has a market capitalization of $1.01 billion, a P/E ratio of 8.72 and a beta of 1.43. The business has a 50-day moving average of $12.83 and a 200 day moving average of $13.09. Franklin BSP Realty Trust has a fifty-two week low of $11.73 and a fifty-two week high of $14.70.

Institutional Trading of Franklin BSP Realty Trust

Several hedge funds have recently added to or reduced their stakes in FBRT. Raymond James Financial Services Advisors Inc. acquired a new stake in Franklin BSP Realty Trust during the 1st quarter worth approximately $680,000. Bank of New York Mellon Corp increased its stake in Franklin BSP Realty Trust by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 374,100 shares of the company’s stock worth $5,231,000 after acquiring an additional 10,905 shares during the period. PNC Financial Services Group Inc. increased its stake in Franklin BSP Realty Trust by 70.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,881 shares of the company’s stock worth $39,000 after acquiring an additional 1,186 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Franklin BSP Realty Trust during the 1st quarter worth $851,000. Finally, MetLife Investment Management LLC increased its stake in Franklin BSP Realty Trust by 49.8% during the 1st quarter. MetLife Investment Management LLC now owns 21,555 shares of the company’s stock worth $301,000 after acquiring an additional 7,167 shares during the period. 59.87% of the stock is owned by institutional investors and hedge funds.

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).