Franklin Bsp Rlty Tr Inc Stock Price, News & Analysis

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has rescheduled its first quarter 2023 earnings conference call to avoid overlap with other commercial real estate industry calls. The earnings results will be released on May 3, 2023, after trading hours, followed by a conference call on May 4, 2023, at 9:30 a.m. ET. Participants can access the call by pre-registering on the Company’s website or by phone. An audio replay will be available on the site approximately one hour post-call for 90 days. As of December 31, 2022, FBRT held approximately $6.2 billion in assets and is externally managed by Benefit Street Partners, a subsidiary of Franklin Resources, Inc.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has successfully sold the Williamsburg Hotel in Brooklyn for $96 million, a transaction facilitated by a trustee from the United States Bankruptcy Court. This sale allows FBRT to fully recover its loan principal and gain approximately $20 million beyond closing costs. The hotel loan had been monitored since June 2019, and the proceeds will be reinvested into the company's commercial real estate portfolio. With assets totaling $6.2 billion as of December 31, 2022, FBRT continues to manage its diversified real estate debt investments effectively.

Franklin BSP Realty Trust (NYSE: FBRT) announced it will release its first quarter 2023 results on May 3, 2023, after trading hours. The company will hold a conference call the following day, May 4, 2023, at 10:00 a.m. ET to discuss the results. Participants are encouraged to pre-register for the call, which can be accessed through their website or via phone. As of December 31, 2022, FBRT reported approximately $6.2 billion in assets and is managed by Benefit Street Partners. For more information and access details, visit fbrtreit.com.

Franklin BSP Realty Trust (NYSE: FBRT) has appointed Michael Comparato as its new President, effective immediately. Comparato, previously a managing director at Benefit Street Partners, has extensive experience in commercial real estate. He will oversee day-to-day operations, including loan originations and investments, continuing from his leadership at BSP. Richard J. Byrne retains his roles as Chairman and CEO. Comparato's appointment is expected to enhance long-term stockholder value through his significant expertise in the industry, as emphasized by both Byrne and Tom Gahan, CEO of BSP.

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.