| Over a month ago | ||||
BTIG analyst Sarah… BTIG analyst Sarah Barcomb initiated coverage of Franklin BSP Realty Trust with a Buy rating and $13.50 price target, which represents 20% potential total return including dividends. The firm recognizes the potential for near-term Sunbelt multifamily supply headwinds, but contends that the stock provides investors with access to a more stable book of senior floating-rate loans relative to peers given its higher concentration to newer-vintage multifamily assets. | ||||
Raymond James initiated… Raymond James initiated coverage of Franklin BSP Realty Trust with an Outperform rating and $13.50 price target. Raymond James expects 1H earnings to benefit from LIBOR increases year-to-date, the analyst tells investors in a research note. The firm notes "attractive" portfolio characteristics, such as high mix of multifamily loans, minimal office exposure, benefits of increasing rates, and high mix of non-mark-to-market financing. | ||||
Raymond James initiated… Raymond James initiated coverage of Franklin BSP Realty Trust with an Outperform rating and $13.50 price target. The shares are trading at just over 70% of book value, which the analyst calls a discount that "overly reflects possible credit losses." | ||||
Conference call with… Conference call with management will be held on March 30 hosted by B. Riley. | ||||
Conference call with… Conference call with management will be held on March 30 hosted by B. Riley. | ||||
Meetings to be held in… Meetings to be held in New York on March 20 and in Boston on March 21 hosted by B. Riley. | ||||
Meetings to be held in… Meetings to be held in New York on March 20 and in Boston on March 21 hosted by B. Riley. | ||||
Meetings to be held in… Meetings to be held in New York on March 20 and in Boston on March 21 hosted by B. Riley. | ||||
| Over a quarter ago | ||||
Produced a fourth quarter… Produced a fourth quarter GAAP and Distributable Earnings ROE of 6.4% and 9.2%, respectively. Reports Q4 book value of $15.78 per diluted common share on a fully converted basis. Richard Byrne, Chairman and CEO of FBRT, said, "FBRT delivered strong fourth quarter results, posting our third consecutive quarter of distributable earnings growth. Our distributable earnings over-covered our fourth quarter dividend despite lower origination volume and a relatively flat portfolio. Importantly, our liquidity position of approximately $1.0 billion coupled with our low leverage of 2.5 times demonstrates our conservative balance sheet and puts us in a position to take advantage of attractive opportunities that may arise." | ||||
B. Riley analyst Matt… B. Riley analyst Matt Howlett initiated coverage of Franklin BSP Realty Trust with a Buy rating and $16 price target. Franklin is a commercial mortgage real estate investment trust with a focus on the U.S. transitional bridge lending market, Howlett tells investors in a research note. The analyst says the trust is a "backed by world-class sponsorship" through its ties to leading alternative manager Benefit Street Partners and global asset manager Franklin Templeton. The combined assets under management from these two entities is over $1.6 trillion, which "provides a significant competitive advantage," says the analyst. He sees a path toward above-average earnings growth and dividend coverage for Franklin by Q4 of 2022. | ||||
