The Vanguard Group, Inc. recently announced the acquisition of new stake in Franklin BSP Realty Trust Inc. (NYSE:FBRT). The institutional investor has increased its shareholding in the Real Estate company by 4.71% to 9.07 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 11.00% valued currently at $116.99 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.21 million to 2.96 million shares. And Franklin Advisers, Inc. has lifted its position by 16.86% or 0.37 million shares – to 2.56 million shares.
With over 0.26 million Franklin BSP Realty Trust Inc. (FBRT) shares trading Friday and a closing price of $14.19 on the day, the dollar volume was approximately $3.62 million. The shares have shown a negative half year performance of -0.77% and its price on 01/13/23 gained nearly 2.68%. Currently, there are 83.67M common shares owned by the public and among those 82.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for FBRT have a consensus price objective of $16.25. The analysts have set the share’s price value over the next 12 months at a high of $16.50 and a low of $16.00. The average price target is 12.68% above its recent price level and an upside to the estimated low will see the stock gain 11.31% over that period. But an upside of 14.0% will see the stock hit the forecast high price target while median target price for the stock is $16.25.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 171,394 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Franklin BSP Realty Trust Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.1 million shares of the company’s stock, all valued at over $78.71 million. The company sold 4624.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Vanguard Total Stock Market Index bought 7227.0 shares to see its total holdings expand to 2.63 million shares valued at over $33.97 million and representing 3.19% of the shares outstanding. Vanguard Small Cap Index Fund bought 10778.0 shares to bring its total holdings to over 2.17 million shares at a value of $27.99 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.63% of the shares outstanding.
Shares of Franklin BSP Realty Trust Inc. (NYSE: FBRT) opened at $13.73, down -$0.09 from a prior closing price of $13.82. However, the script later moved the day high at 14.21, up 2.68%. The company’s stock has a 5-day price change of 4.42% and 19.04% over the past three months. FBRT shares are trading 10.00% year to date (YTD), with the 12-month market performance down to -6.46% lower. It has a 12-month low price of $10.34 and touched a high of $16.20 over the same period. FBRT has an average intraday trading volume of 303.41K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.13%, 2.53%, and 3.01% respectively.
Institutional ownership of Franklin BSP Realty Trust Inc. (NYSE: FBRT) shares accounts for 59.30% of the company’s 83.67M shares outstanding. Mutual fund holders own 22.87%, while other institutional holders and individual stakeholders account for 35.23% and 0.39% respectively.
It has a market capitalization of $1.14B. The earnings-per-share (ttm) stands at -$3.13. The company has a debt-to-equity ratio at 3.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.52% over the week and 2.92% over the month.
Analysts forecast that Franklin BSP Realty Trust Inc. (FBRT) will achieve an EPS of $0.31 for the current quarter, $0.35 for the next quarter and $1.58 for 2023. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.32. Earnings per share for the fiscal year are expected to decrease by -120.20%, and 16.33% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Franklin BSP Realty Trust Inc. (FBRT) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FBRT, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on September 28, 2022, with the firm’s price target at $16.