FRANKLIN BSP REALTY TRUST INC (FBRT)
Financials · Commercial real estate finance / mortgage REIT · NYSE
A REIT that finances and manages commercial real estate debt and securities, generating returns through origination, asset management, and securitization while externally managed by Franklin Templeton's credit platform.
What FRANKLIN BSP REALTY TRUST INC does
Franklin BSP Realty Trust is a real estate finance company and REIT that originates, acquires, and asset manages commercial real estate debt investments including first mortgage loans, subordinated mortgage loans, mezzanine loans, and real estate securities. The company operates through two business units: Commercial Real Estate Financing, which includes originating conduit loans for CMBS securitizations and investing in CMBS bonds and other real estate securities, and Agency Business (acquired via NewPoint Holdings in July 2025). The company is externally managed by Benefit Street Partners, a subsidiary of Franklin Templeton.
Themes: ["Commercial real estate lending","Real estate finance / credit","CMBS securities and securitization","Mortgage servicing","Real estate debt and asset management"]
Fundamentals
- Price$7.92 as of 2026-07-09 close
- Market cap$610M as of 2026-07-10
- 1-year return-27.8% as of 2026-07-09 close
- P/E8.68 as of 2026-07-10
- Net margin+12.2% as of 2026-07-10
- Gross margin+41.3% as of 2026-07-10
- ROE+4.6% as of 2026-07-10
- Debt / equity3.09 as of 2026-07-10
- Revenue growth (YoY)+5.7% as of 2026-07-10
- Revenue CAGR (3y)+9.3% SEC XBRL
- Beta1.12 as of 2026-07-10
Dividend: yield +14.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Commercial real estate credit risk and loan defaults, with growing allowance for credit losses ($49.2M as of March 2026 vs. $38.3M at end of 2025)","Funding and liquidity risk from reliance on CLOs, repurchase agreements, and revolving credit facilities which totaled $4.3B in liabilities","Interest rate risk exposure affecting net interest margin and refinancing costs, with net interest income declining from $43.3M (Q1 2025) to $27.0M (Q1 2026)"]
Competitors & peers
- Blackstone Mortgage Trust (BRG)
- Arbor Realty Trust (ABR)
- New York Mortgage Trust (NYMT)
- Ellington Residential Mortgage (ERM)
- MFA Financial (MFA)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.