Franklin BSP Realty Trust, Inc. - FBRT STOCK NEWS

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has declared a first quarter 2023 dividend of $0.355 per common share, payable on April 10, 2023, to stockholders of record by March 31, 2023. Additionally, a dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: FBRTPRE) will be paid on April 17, 2023. As of December 31, 2022, FBRT reported approximately $6.2 billion in assets and is externally managed by Benefit Street Partners L.L.C.

Franklin BSP Realty Trust (FBRT) reported financial results for Q4 and the full year ending December 31, 2022, showing a net income of $27.2 million for the quarter and $14.2 million for the year. Diluted EPS was $0.25 for Q4 and $(0.38) for the full year. Distributable Earnings reached $38.8 million and $116.1 million respectively, with a strong coverage of dividends at 104%. The company closed $209 million in new loan commitments in Q4, with a core portfolio totaling $5.3 billion. A cash dividend of $0.355 was declared, yielding 9% on book value. Share buybacks totaled $5.5 million in Q4, contributing to an increase in book value.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has successfully closed a $120 million loan to refinance a portfolio comprising 12 limited-service hotels across California, Connecticut, and New Jersey. The total loan amount, including a $20 million mezzanine loan from Driftwood Capital, reaches $140 million. This portfolio features 1,313 rooms across chains like Residence Inn and Hilton Garden Inn, with ten properties recently renovated. The transaction marks the sixth collaboration between FBRT and Driftwood, reinforcing their ongoing partnership. FBRT's asset base exceeded $6.3 billion as of September 30, 2022.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is set to release its fourth quarter 2022 results on February 22, 2023, after the market closes. A conference call will follow on February 23, 2023, at 9:00 a.m. ET for discussion of the financial results. The trust manages a diversified portfolio of commercial real estate debt with approximately $6.2 billion in assets as of September 30, 2022. Interested participants can access the call via pre-registration or by calling designated numbers. An audio replay will be available for 90 days following the call.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has declared a fourth quarter 2022 common dividend of $0.355 per share, payable on January 11, 2023. The record date for this dividend is December 30, 2022. Additionally, dividends for its Series H and I Preferred Stock match the common dividend. The Company also announced a Series E Preferred Stock dividend of $0.46875 per share, payable on January 17, 2023. FBRT manages approximately $6.2 billion in assets, focused on commercial real estate debt across the United States.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has appointed Joe Dumars to its Board of Directors effective January 1, 2023. Dumars, a seasoned executive with a background in sports management and operations, adds valuable leadership experience to the board, which now consists of eight members, seven of whom are independent. His extensive experience, including roles in the NBA, is expected to enhance board dynamics. As of September 30, 2022, FBRT held approximately $6.2 billion in assets and is managed by Benefit Street Partners.

Franklin BSP Realty Trust (FBRT) reported a GAAP net income of $35.3 million ($0.34 per diluted share) for Q3 2022, a significant recovery from a loss of $25.7 million in Q2 2022. Distributable Earnings improved to $34.4 million ($0.33 per share), up from $30.7 million in the previous quarter. The company declared a cash dividend of $0.355, yielding 9.0% on book value. FBRT closed $470 million in new loan commitments, growing its core portfolio to $5.4 billion. The company also engaged in share repurchases amounting to $11.0 million during the quarter.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) will release its third quarter 2022 financial results on November 9, 2022, after market close. A conference call will follow on November 10, 2022, at 9:00 a.m. ET to discuss the results. Participants can access details via the company website and are encouraged to pre-register. The company, externally managed by Benefit Street Partners, manages a portfolio exceeding $6.3 billion in real estate debt across the U.S. Investors can also access a replay of the call online.

Benefit Street Partners and Franklin Templeton have launched the Franklin BSP Private Credit Fund (FBSPX), designed for wealth management clients. This fund aims to capitalize on US middle market private credit opportunities, providing higher yields and diversified risk-adjusted returns. It utilizes an interval fund structure, making it accessible for investors. The fund will dynamically adjust investments in private debt categories, leveraging BSP's institutional expertise and targeting robust income generation amid rising inflation and interest rates.