Franklin BSP Realty Trust (FBRT)
Originates commercial-real-estate debt and agency multifamily loans with servicing capabilities.
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Originates, acquires, and manages commercial-real-estate debt and related investments. The NewPoint acquisition added agency lending and mortgage-servicing capabilities to its legacy commercial mortgage platform.
Originates, acquires, and manages commercial real estate debt and related investments as a REIT. Its legacy platform focuses on commercial mortgage lending, while the 2025 NewPoint acquisition added an Agency Business and mortgage servicing rights.
NewPoint supplies agency origination and servicing through Fannie Mae, Freddie Mac, and FHA programs, extending the platform's multifamily lending offering. The combined business joins underwriting, origination, asset management, and servicing capabilities.
Benefit Street Partners, a Franklin Resources subsidiary, externally manages the business. The structure depends on that external management arrangement and on agency lending programs.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | BTIG | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $155.0M · Total debt $4.18B · Total assets $6.38B · Shareholders' equity $1.46B
- Revenue
- $141.5M
- Operating income
- $79.9M
- Net income
- $15.6M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 57.97% | 48.14M shares | |
|---|---|---|---|
| 249 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.28% | 1.89M shares | |
| 10 holders · as of Jun 17, 2026 | |||
| Other | ≈ 39.75% | 33.02M shares | |
| remainder | |||
83.05M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.66% | 13.00M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.13% | 3.43M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.90% | 3.24M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.49% | 2.07M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 2.23% | 1.85M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 6, 2022 | Buford H. Ortale | director | +10,000 | $20.00 |
| Jun 15, 2026 | Buford H. Ortale | director | +29,597 | $9.85 |
| Mar 3, 2026 | Brian Buffone | officer: President | +27,000 | $9.41 |
| Feb 17, 2026 | Buford H. Ortale | director | +2,000 | $8.88 |
| Feb 18, 2026 | Buford H. Ortale | director | +2,000 | $8.77 |
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Franklin BSP Realty Trust | $7.68 | −1.35% | $640.3M | 17.5 | 7.4 | 1.1 | −45.4% |
| Blackstone Mortgage Trust | $13.14 | −0.08% | $2.24B | 165.9 | 10.9 | 1.5 | +18.1% |
| Starwood Property Trust | $15.10 | 0.00% | $5.56B | 22.0 | 9.0 | 2.7 | +7.9% |
| KKR Real Estate Finance Trust | $6.62 | +0.08% | $434.7M | — | — | 1.0 | −41.6% |
| TPG RE Finance Trust | $7.19 | −0.28% | $553.5M | 13.3 | 6.7 | 2.1 | −58.7% |
| Arbor Realty Trust | $4.39 | +0.23% | $834.8M | 32.1 | 10.3 | 0.7 | −11.1% |
| BrightSpire Capital | $4.28 | +0.14% | $528.9M | — | 7.1 | 1.6 | −2.8% |
| Median | 27.0 | 9.0 | 1.5 | −7.0% |