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FBRTFranklin BSP Realty Trust, Inc.
$7.83$603M
Overview & Verdict
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FBRT logoFranklin BSP Realty Trust, Inc.(FBRT)Earnings, Financials & Key Ratios

FBRT•NYSE•REIT / Real Estate
$7.83
12.2× P/E·Price updated Jul 7, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustryCommercial mortgage loan REITs
AboutFranklin BSP Realty Trust, Inc., a real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt secured by properties located in the United States. The company also originates conduit loans; and invests in commercial real estate securities, as well as owns real estate acquired through foreclosure and deed in lieu of foreclosure, and purchased for investment. In addition, it invests in commercial real estate debt investments, which includes first mortgage loans, mezzanine loans, bridge loans, and other loans related to commercial real estate. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Benefit Street Partners Realty Trust, Inc. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.Show more
  • Revenue$0-100.0%
  • FFO$92M+23.3%
  • FFO/Share1.07+17.1%
  • FFO Payout158.47%-18.5%
  • FFO per Share1.07+17.1%
  • ROE5.39%+21.6%
  • ROA1.36%+18.4%

FBRT Price & Volume

Franklin BSP Realty Trust, Inc. (FBRT) stock price & volume — 10-year historical chart

Loading chart...

Earnings Volatility Masks Structural Credit Portfolio Weakness

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Contracting
Profitability:Strained
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:Maturity defaults on loans

Key Thesis Takeaways

  • Franklin BSP Realty Trust faces significant headwinds as its core earnings power, evidenced by an FFO per share decline from $0.46 in 2024Q1 to $0.19 in 2026Q1, struggles to maintain consistency.
  • The company's reliance on non-cash accounting adjustments and potential PIK income creates a disconnect between reported GAAP net income and actual liquidity, as highlighted by the 16.20x FFO to Net Income ratio in 2025Q4.
  • Investors should remain cautious given the elevated debt-to-equity ratio of 3.09 and the unsustainable dividend payout ratio of 1.61x AFFO, which suggest substantial risks to capital preservation.

Verdict Logic

the company's dividend payout ratio of 1.61x AFFO in 2025Q4 indicates that current distributions are not supported by core operational cash flow, posing a significant risk to long-term shareholder value.

FBRT Growth Metrics

Franklin BSP Realty Trust, Inc. (FBRT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-1.64%

Profit CAGR

10 Years12.68%
5 Years8.49%
3 Years78.64%
TTM25.82%

EPS CAGR

10 Years1.34%
5 Years-6.59%
3 Years-
TTM-23.88%

Return on Capital

10 Years2.27%
5 Years2.25%
3 Years2.1%
Last Year1.53%

FBRT Recent Earnings

Franklin BSP Realty Trust, Inc. (FBRT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 29, 2026
Metric
Actual
Est
EPS
$0.22+0.0%
$0.22
Rev
$74M+1.8%
$73M
Q1 2026
Feb 11, 2026
Metric
Actual
Est
EPS
$0.12-53.8%
$0.26
Rev
$81M-13.4%
$94M
Q4 2025
Oct 29, 2025
Metric
Actual
Est
EPS
$0.22-25.4%
$0.29
Rev
$90M+10.0%
$81M
Q3 2025
Jul 30, 2025
Metric
Actual
Est
EPS
$0.27-12.9%
$0.31
Rev
$120M+46.8%
$81M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$0.22vs $0.22+0.0%
$74Mvs $73M+1.8%
Q1 2026Feb 11, 2026
$0.12vs $0.26-53.8%
$81Mvs $94M-13.4%
Q4 2025Oct 29, 2025
$0.22vs $0.29-25.4%
$90Mvs $81M+10.0%
Q3 2025Jul 30, 2025
$0.27vs $0.31-12.9%
$120Mvs $81M+46.8%
Based on last 12 quarters of dataView full earnings history →

Latest FBRT News

Recent stock market news and headlines for Franklin BSP Realty Trust, Inc. (FBRT)

PRNewsWire·Jun 25, 2026
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm

NEW YORK, June 25, 2026 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Franklin BSP Realty Trust, Inc. (NYSE: FBRT)  breached their fiduciary duties to shareholders.  According to a federal securities lawsuit, Franklin BSP Realty Trust misrepresented or failed to disclose that the Company had recklessly overstated: (1) its earnings prospects; and (2) its ability to maintain a $0.355 dividend per share of common stock.

GlobeNewsWire·Jun 18, 2026
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm

NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Franklin BSP Realty Trust, Inc. (NYSE: FBRT) breached their fiduciary duties to shareholders.

Business Wire·Jun 17, 2026
Franklin BSP Realty Trust, Inc. Announces Second Quarter 2026 Common Stock Dividend of $0.20 Per Share and Series E Cumulative Redeemable Preferred Stock Dividend of $0.46875 Per Share

NEW YORK--(BUSINESS WIRE)--Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced its Board of Directors has declared a second quarter 2026 dividend of $0.20 per common share. The dividend is payable on or about July 10, 2026, to common stockholders of record as of June 30, 2026. The Board of Directors has also declared a second quarter 2026 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount.FBRT's Bo.

Newsfile Corp·Jun 16, 2026
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm

New York, New York--(Newsfile Corp. - June 16, 2026) - Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Franklin BSP Realty Trust, Inc. (NYSE: FBRT) breached their fiduciary duties to shareholders. According to a federal securities lawsuit, Franklin BSP Realty Trust misrepresented or failed to disclose that the Company had recklessly overstated: (1) its earnings prospects; and (2) its ability to maintain a $0.355 dividend per share of common stock.

Peers Comparison

Key metrics vs top competitors for Franklin BSP Realty Trust, Inc. (FBRT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FBRT logoFBRTFranklin BSP Realty Trust, Inc.Current
$7.83$602.62M12.23-100%—5.39%21.57%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$17.15$2.89B26.80-13.96%6.75%2.93%—
RC logoRCReady Capital Corporation
$1.68$277.57M-1.171725.96%-290.69%-29.57%—
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$1.44$69M-1.24187.77%-30.49%-7.1%—
TRTX logoTRTXTPG RE Finance Trust, Inc.
$8.41$650.16M14.75123.25%23.2%5.7%—
ARI logoARIApollo Commercial Real Estate Finance, Inc.
$10.23$1.36B12.631.28%17.9%6.88%—

Compare FBRT vs Peers

Franklin BSP Realty Trust, Inc. (FBRT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BXMT

Most directly comparable listed peer for FBRT.

Scale Benchmark

vs BX

Larger-name benchmark to compare FBRT against a more recognizable public peer.

Peer Set

Compare Top 5

vs BXMT, RC, GPMT, TRTX

FBRT SEC Filings & Documents

Franklin BSP Realty Trust, Inc. (FBRT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Apr 20, 2026·SEC

Material company update

Feb 11, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 29, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Jul 30, 2025·SEC

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FBRT Frequently Asked Questions

Franklin BSP Realty Trust, Inc. (FBRT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Franklin BSP Realty Trust, Inc.'s revenue?

Franklin BSP Realty Trust, Inc. (FBRT) reported $401.1M in revenue for fiscal year 2025.

How fast is Franklin BSP Realty Trust, Inc. growing?

Franklin BSP Realty Trust, Inc. (FBRT) saw revenue decline by 100.0% over the past year.

Is FBRT profitable?

Yes, Franklin BSP Realty Trust, Inc. (FBRT) is profitable, generating $71.7M in net income for fiscal year 2025 (17.9% net margin).

Dividend & Returns
Does FBRT pay dividends?

Yes, Franklin BSP Realty Trust, Inc. (FBRT) pays a dividend with a yield of 21.57%. This makes it attractive for income-focused investors.

What is FBRT's return on equity?

Franklin BSP Realty Trust, Inc. (FBRT) has a return on equity (ROE) of 5.4%. This is below average, suggesting room for improvement.

Industry Metrics
What is Franklin BSP Realty Trust, Inc.'s FFO?

Franklin BSP Realty Trust, Inc. (FBRT) generated Funds From Operations (FFO) of $83.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is FBRT a good dividend stock?

Franklin BSP Realty Trust, Inc. (FBRT) offers a 21.57% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in FBRT back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →