Welcome to our dedicated page for Franklin Bsp Rlty Tr news (Ticker: FBRT), a resource for investors and traders seeking the latest updates and insights on Franklin Bsp Rlty Tr stock.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a U.S.-focused real estate investment trust that concentrates on commercial real estate debt secured by properties across the country. The FBRT news feed highlights company announcements related to its lending activities, capital markets transactions, quarterly earnings and dividend declarations, giving readers direct access to the company’s own updates.
Recent press releases show FBRT reporting quarterly results, describing the performance of its core commercial mortgage loan portfolio, conduit lending business and agency segment, and outlining metrics such as loan originations, repayments, real estate owned positions and liquidity. The company also issues news when its board declares quarterly cash dividends on common stock, its 7.50% Series E Cumulative Redeemable Preferred Stock and its convertible Series H Preferred Stock.
News items further cover significant corporate and financing events. Examples include the closing and pricing of commercial real estate collateralized loan obligation transactions, the issuance of unsecured senior notes by its operating partnership, and the completion of the acquisition of NewPoint Holdings JV LLC, a commercial real estate finance company that adds agency lending capabilities and multifamily lending scale to FBRT’s platform. These releases often explain how such transactions relate to the company’s broader commercial real estate debt strategy.
The FBRT news page also features notices about scheduled earnings releases and conference calls, including dial-in and webcast details and references to supplemental earnings presentations. Investors and analysts who follow FBRT’s common stock (FBRT) and preferred stock (FBRT PRE) can use this news stream to track the company’s financial reporting schedule, portfolio developments, securitization activity and capital allocation decisions over time.
Benefit Street Partners L.L.C. (BSP) has announced the closing of three floating-rate, cross-collateralized senior loans totaling $265 million on a multifamily portfolio. The portfolio consists of 1,262 units of class A multifamily properties across three locations in Saint John's County, Florida. Electra Capital Advisors, provided additional mezzanine loans of $60 million.
The loan's sponsor, Gatlin Development, is a repeat borrower of BSP. BSP was the original construction lender for all three assets, completed in 2023 and 2024. The loan was allocated across BSP's commercial real estate platform, with $136.4 million going to Franklin BSP Realty Trust, Inc. (NYSE: FBRT). This transaction demonstrates BSP's focus on high-quality multifamily loans and their ongoing relationship with Gatlin Development.
Franklin BSP Realty Trust (NYSE: FBRT) announced its Q2 2024 financial results. Key highlights include:
- GAAP net loss of $3.8 million, compared to $35.8 million profit in Q1 2024
- Diluted EPS of $(0.11), down from $0.35 in Q1 2024
- Distributable Earnings of $32.4 million ($0.31 per diluted share), compared to $41.0 million ($0.41 per share) in Q1 2024
- Core portfolio principal balance increased by $195 million to $5.4 billion
- Closed $622 million of new loan commitments at a weighted average spread of 318 basis points
- Declared Q2 common stock cash dividend of $0.355, representing a 9.3% annualized yield on book value per share
- Book value of $15.27 per diluted common share
- Repurchased 240,740 shares at an average price of $12.42 per share
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) announced the release of its second quarter 2024 results on July 31, 2024, after the market closes. The company will hold a conference call and live audio webcast to discuss these financial results on August 1, 2024, at 9:00 a.m. ET. Detailed information about the call and webcast, including registration links and access numbers, can be found on the company’s website. Participants are advised to pre-register and join the call at least five minutes prior to the start time. A slide presentation with supplemental information will be available on the website before the call, and an audio replay of the broadcast will be accessible for 90 days following the event.
Franklin BSP Realty Trust (NYSE: FBRT) has declared a second quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about July 10, 2024, to common stockholders of record as of June 28, 2024. Additionally, the Board announced a second quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock, payable on July 15, 2024, to Series E preferred stockholders of record as of June 30, 2024, with an effective record date of June 28, 2024.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) closed a $125 million loan on a 414-unit multifamily property in downtown Stamford, CT, part of $408 million in loan originations in Q2 and $999 million year-to-date. The loan has a three-year term with extension options, sponsored by Quarterra Multifamily, a subsidiary of Lennar FBRT President, Michael Comparato, commended the partnership with Quarterra.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) reported GAAP net income of $35.8 million for Q1 2024, increase from $30.0 million in Q4 2023. Diluted EPS rose to $0.35 from $0.28. Distributable Earnings grew to $41.0 million, or $0.41 per diluted common share. First Quarter 2024 Summary: GAAP and Distributable Earnings ROE of 8.9% and 10.4%, respectively. Book value of $15.68 per diluted common share. Declared a $0.355 dividend. Closed $591 million in new loans. Total liquidity at $1.0 billion. Repurchased 151,123 shares. The Company remains optimistic about its future growth and performance.
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