Franklin Bsp Rlty Tr Inc Stock Price, News & Analysis

Franklin BSP Realty Trust (NYSE: FBRT) has completed its previously announced acquisition of NewPoint Holdings JV L.L.C. for a total consideration of $425 million. The strategic acquisition significantly expands FBRT's multifamily lending capabilities and creates a comprehensive one-stop solution platform.

According to CEO Richard Byrne, the transaction represents a transformational milestone that positions FBRT to deliver long-term stockholder value through book value growth and enhanced earnings streams. President Michael Comparato highlighted that the addition of agency lending capabilities creates a fully integrated solution for clients, noting strong cultural alignment between the organizations.

Franklin BSP Realty Trust announced the issuance of $107 million in unsecured senior notes through its operating partnership, FBRT OP LLC. The offering consists of $82 million in 8.25% fixed-rate notes due 2030 and $25 million in floating-rate notes due 2028 with an initial 8.33% coupon. The proceeds will be used for general corporate purposes, potentially including funding part of the NewPoint Holdings JV LLC acquisition, though the issuance is not contingent on the acquisition's closing. The notes were offered privately to qualified institutional buyers and accredited investors under Rule 144A and Regulation D, as well as non-U.S. persons under Regulation S.

Franklin BSP Realty Trust (NYSE: FBRT) has declared dividends for Q2 2025. Common stockholders will receive $0.355 per share, payable on July 10, 2025, with a record date of June 30, 2025. The company also announced dividends for its Series H Convertible Preferred Stock equal to the common share dividend amount, and a $0.46875 per share dividend for its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: FBRTPRE), payable on July 15, 2025, with a record date of June 30, 2025.

Franklin BSP Realty Trust reported mixed Q1 2025 financial results, with GAAP net income of $23.7 million, down from $30.2 million in Q4 2024. The company's earnings per share decreased to $0.20 from $0.29 in the previous quarter.

Key highlights:

• Portfolio Overview: $4.8 billion core portfolio with 152 loans, averaging $31.6 million per loan
• Property Focus: 71.3% in multifamily and only 2.9% in office properties
• Loan Activity: Closed $341 million in new loan commitments with 325 basis points weighted average spread
• Financial Position: Total liquidity of $912.8 million, including $215.4 million in cash
• Dividend: Declared $0.355 cash dividend, yielding 9.5% on book value

The company reported negative Distributable Earnings of $(6.2) million, or $(0.12) per share, compared to positive $31.2 million, or $0.30 per share in Q4 2024. Book value stood at $14.95 per diluted common share. The company maintains strong portfolio quality with 99% in senior mortgage loans and 89.3% in floating rate loans.

Franklin BSP Realty Trust (NYSE: FBRT) has announced its schedule for first quarter 2025 earnings release and conference call. The company will release Q1 2025 results on Monday, April 28, 2025, after the NYSE trading close. A conference call and live audio webcast to discuss financial results will be held on Tuesday, April 29, 2025, at 9:00 a.m. ET.

Participants can pre-register for the event or join by dialing (844) 701-1166 (Domestic) or (412) 317-5795 (International). A supplemental slide presentation will be available on FBRT's website, and an audio replay will be accessible for 90 days after the call.

Franklin BSP Realty Trust (NYSE: FBRT) has announced its dividend distributions for the first quarter of 2025. The company declared a quarterly dividend of $0.355 per common share, payable on April 10, 2025, to stockholders of record as of March 31, 2025.

Additionally, FBRT announced a dividend for its convertible Series H Preferred Stock equivalent to the common share dividend amount, and a dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: FBRTPRE), payable on April 15, 2025, to Series E preferred stockholders of record as of March 31, 2025.

Franklin BSP Realty Trust (NYSE: FBRT) has announced a definitive agreement to acquire NewPoint Holdings JV , a private commercial real estate finance company. The transaction is expected to close in Q3 2025.

The strategic acquisition will expand FBRT's capabilities by adding agency and mortgage servicing to its existing commercial real estate lending products. Key benefits include:

• Access to agency originations through NewPoint's approval with three government sponsored entities
• Integration of NewPoint's $54.7 billion servicing portfolio
• Expected accretion to GAAP earnings per share in H1 2026
• Enhanced market presence and wider geographic footprint

The acquisition will be financed through existing cash, debt, and equity issuance. FBRT will operate the acquired business through a taxable REIT subsidiary.

Franklin BSP Realty Trust (FBRT) reported its Q4 and full-year 2024 financial results. The company achieved GAAP net income of $30.2 million in Q4 and $92.4 million for the full year 2024. Q4 diluted EPS was $0.29, while full-year EPS reached $0.82.

The core portfolio balance stood at $5.0 billion, comprising 155 loans with an average size of $32 million. Notable portfolio characteristics include: 99% in senior mortgage loans, 93% floating rate, and 71% collateralized by multifamily properties. In Q4, FBRT closed $441 million in new loan commitments and maintained total liquidity of $535 million.

For full-year 2024, the company closed $2.0 billion in new loan commitments, completed a $1.024 billion CLO transaction, and repurchased 391,863 shares at an average price of $12.42. The company declared a Q4 cash dividend of $0.355, representing a 9.3% annualized yield on book value, which stood at $15.19 per diluted share.

Benefit Street Partners (BSP) has announced the closing of a $135 million loan package for The Empire Hotel refinancing, comprising a $120 million senior loan and a $15 million mezzanine loan. The Empire Hotel, built in 1901 and renovated in 2013, is a 427-key hotel located in Manhattan's Upper West Side.

The loans were distributed across BSP's commercial real estate platform, with a portion allocated to Franklin BSP Realty Trust (NYSE: FBRT). The transaction was executed swiftly, with the borrower signing the application on December 17, 2024, and funding completed within 18 business days.