Franklin BSP Realty Trust, Inc. filings document a Maryland real estate investment trust focused on commercial real estate debt and related agency lending operations. Its 8-K reports include financial results, supplemental operating materials, commercial real estate mortgage securitization agreements through consolidated issuers, and material changes affecting security holder rights.
Proxy filings describe board governance, stockholder voting matters, and executive compensation. The filing record also identifies the company’s NYSE-listed common stock and Series E cumulative redeemable preferred stock, and includes amendments affecting Series H convertible preferred stock terms, officer appointments, and other corporate governance disclosures.
Franklin BSP Realty Trust, Inc. (FBRT) is the issuer whose common stock is covered by BlackRock, Inc.’s amended beneficial-ownership report. As of September 30, 2026, BlackRock reported beneficial ownership of 8,164,777 shares, or 9.8% of the class. It reported sole voting power over 8,012,922 shares and sole dispositive power over 8,164,777 shares, with no shared voting or dispositive power. BlackRock stated that these figures reflect securities beneficially owned or deemed beneficially owned by certain business units and affiliates, excluding other business units whose holdings are disaggregated. It also stated that various persons may receive dividends or sale proceeds, but no one person’s interest in FBRT common stock was more than 5% of the outstanding shares.
Franklin BSP Realty Trust, Inc. (FBRT) announced a leadership transition in which Richard J. Byrne was reappointed as Chief Executive Officer, effective September 16, 2026, succeeding Michael Comparato, who resigned as CEO on September 15, 2026 and will move to a Senior Advisor role at Benefit Street Partners L.L.C. through 2027.
Byrne, who previously served as CEO from 2016 to February 2026, will continue as Chairman of the Board and work with the existing senior leadership team. The Board also appointed Jerome (Jerry) S. Baglien, already Chief Financial Officer and Chief Operating Officer, as Co-President alongside Brian Buffone, and Baglien will lead BSP’s Commercial Real Estate Debt platform.
FBRT is described as a real estate investment trust focused on U.S. commercial real estate debt, with approximately $6.4 billion of assets as of June 30, 2026, and is externally managed by Benefit Street Partners, which had $96.4 billion in assets under management as of the same date.
Franklin BSP Realty Trust reported second-quarter 2026 GAAP net income of $16.3 million, or $0.12 per diluted common share and $0.13 per fully converted share. Distributable Earnings were $28.3 million, or $0.25 per fully converted share, and Distributable Earnings before realized losses were $30.2 million, or $0.28 per share. The company declared a $0.20 per share common dividend, which it states equates to a 5.6% yield on fully converted book value and 10.2% on its recent trading price. Fully converted book value per share was $14.24, or $14.74 on an adjusted basis, and repurchases of 1,838,855 shares for $16.0 million added $0.11 of accretion.
The core loan portfolio totaled $4.3 billion across 172 loans averaging $25.3 million, with 80% collateralized by multifamily properties and an average risk rating of 2.4; 12 loans were on the watch list. The Agency Business managed a $59.8 billion servicing portfolio and held mortgage servicing rights valued at $205.5 million. Total liquidity was $796.7 million, including $136.3 million of cash and cash equivalents, and net debt to equity was 2.6x, with 79% of core portfolio financing from non-mark-to-market sources. During the quarter the company closed an $880.4 million CRE CLO financing $778.1 million of assets, and subsequent to quarter end 7,918,314 OP Units were redeemed for the same number of common shares.
Franklin BSP Realty Trust, Inc. reported Q2 2026 net income attributable to the company of $15,569 thousand and net income applicable to common stock of $9,653 thousand, or $0.12 per diluted share, versus $0.19 a year earlier. Total income increased to $65,294 thousand, driven by gains on sales, mortgage servicing rights and $9,658 thousand of servicing revenue, partly offset by lower net interest income.
Total expenses rose to $53,092 thousand and the credit loss provision shifted to a $7,235 thousand expense from a prior-period benefit. Commercial mortgage loans held for investment were $4,275,122 thousand net, with an allowance for credit losses of $54,457 thousand and non‑performing loan amortized cost of $344,224 thousand. Mortgage servicing rights were $205,549 thousand on a $22.3 billion servicing portfolio. Total assets were $6,383,846 thousand, liabilities $4,834,613 thousand and total equity $1,459,485 thousand. In the first half of 2026 the company repurchased 6,200,451 common shares for $55,823 thousand.
Franklin BSP Realty Trust, Inc. director-related entity Sewanee Vero LLC, a family trust associated with Buford H. Ortale, reported open-market purchases of both preferred and common stock. On June 15, 2026, the trust bought 3,697 shares of 7.50% Series E Cumulative Redeemable Preferred Stock at a weighted average price of $19.75 per share and 25,900 shares of common stock at a weighted average price of $8.44 per share. After these transactions, the trust held 19,597 Series E preferred shares and 28,900 common shares. Separate entries show Ortale with direct holdings of 2,000 Series E preferred shares and 66,357 common shares as of a prior date. A footnote explains that the trust is managed by Ortale’s spouse and that he disclaims beneficial ownership of the trust-held securities.
ORTALE BUFORD H reported acquisition or exercise transactions in this Form 4 filing.
Franklin BSP Realty Trust director Buford H. Ortale received a grant of 12,835 shares of Common Stock as a stock award. The shares are restricted and were issued under the company’s 2021 Equity Incentive Plan at a stated price of $0.00 per share.
The restricted shares vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. After this award, Ortale holds 64,686 Common Stock shares directly. Separately, 3,000 shares are held indirectly by Sewanee Vero LLC, a family trust where Ortale’s spouse is trustee, and Ortale disclaims beneficial ownership of those indirect shares.
Dumars Joe reported acquisition or exercise transactions in this Form 4 filing.
Franklin BSP Realty Trust director Joe Dumars received an equity grant of 12,835 restricted shares of common stock. The award was granted at no cash cost per share as part of the company’s 2021 Equity Incentive Plan and is a form of stock-based compensation.
The restricted shares vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. After this grant, Dumars directly holds a total of 39,442 common shares, aligning his interests more closely with other stockholders through increased ownership.
McDonough Peter J reported acquisition or exercise transactions in this Form 4 filing.
Franklin BSP Realty Trust director Peter J. McDonough received a grant of 12,835 shares of Common Stock. The shares were awarded at no purchase price as restricted stock under the company’s 2021 Equity Incentive Plan and are classified as directly owned.
Following this award, McDonough holds a total of 58,761 shares of Common Stock. The restricted shares will vest on the earlier of the date of Franklin BSP Realty Trust’s 2027 Annual Meeting of Stockholders or June 8, 2027, tying the award to his ongoing board service.
Tuppeny Elizabeth K. reported acquisition or exercise transactions in this Form 4 filing.
Franklin BSP Realty Trust director Elizabeth K. Tuppeny received a grant of 12,835 shares of Common Stock. The shares were awarded at a price of $0.00 per share under the company’s 2021 Equity Incentive Plan and increase her direct holdings to 62,742 shares.
The shares are restricted and will vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027, aligning the director’s compensation with the company’s longer-term performance.
Augustine Patsy Joseph reported acquisition or exercise transactions in this Form 4 filing.
Franklin BSP Realty Trust director Patsy Joseph Augustine received a grant of 12,835 restricted shares of common stock as equity compensation. The award was issued at no cash cost under the company’s 2021 Equity Incentive Plan and increases the director’s direct holdings to 49,062 shares.
The restricted shares will vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. This structure ties the director’s compensation to the company’s long-term performance and continued board service.