Franklin BSP Realty Trust, Inc. reports developments tied to its real estate investment trust platform for commercial real estate debt secured by properties in the United States. News commonly covers quarterly results, loan originations and repayments, credit watch list activity, dividend decisions, and the resolution or sale of real estate owned assets.
The company’s updates also include activity in its Agency Business through NewPoint, including loan commitments under Fannie Mae, Freddie Mac, and HUD programs, as well as commercial real estate mortgage securitizations and managed CRE CLO transactions. Corporate news includes leadership changes and integration steps involving its commercial real estate financing and servicing operations.
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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