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.
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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.
Franklin BSP Realty Trust (FBRT) reported financial results for Q4 and the full year ending December 31, 2022, showing a net income of $27.2 million for the quarter and $14.2 million for the year. Diluted EPS was $0.25 for Q4 and $(0.38) for the full year. Distributable Earnings reached $38.8 million and $116.1 million respectively, with a strong coverage of dividends at 104%. The company closed $209 million in new loan commitments in Q4, with a core portfolio totaling $5.3 billion. A cash dividend of $0.355 was declared, yielding 9% on book value. Share buybacks totaled $5.5 million in Q4, contributing to an increase in book value.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has successfully closed a $120 million loan to refinance a portfolio comprising 12 limited-service hotels across California, Connecticut, and New Jersey. The total loan amount, including a $20 million mezzanine loan from Driftwood Capital, reaches $140 million. This portfolio features 1,313 rooms across chains like Residence Inn and Hilton Garden Inn, with ten properties recently renovated. The transaction marks the sixth collaboration between FBRT and Driftwood, reinforcing their ongoing partnership. FBRT's asset base exceeded $6.3 billion as of September 30, 2022.