Franklin BSP Realty Trust

FBRT

Market cap $848M

Consumers are about as pessimistic about the state of the economy as they have ever been, amid a weakening labor market, disruptions related to the fall 2025 government shutdown, and concerns about an AI bubble. Though the S&P 500 appears to be continuing its ascent, having climbed by almost 17% this year, it is not surprising that investors are growing cautious as they wait for a (potentially major) course correction.

Franklin BSP Realty has seen its dividend yield expand to 14% as its quarterly payouts are maintained and its common shares pull back from a year ago. The mREIT does not currently cover the dividend but has a substantial liquidity position that has been tapped to maintain distributions. A book value of $14.29 per share at the end of the third quarter means the mREIT is currently changing hands at a 30% discount.

Dividends matter. So do losses. Look at a couple of charts and call it a day. Most people don't want to go through all the history, but we can sum up over a decade in a few images. When we compare prices and book value over time, we can see that the huge dividends were not enough. They still are not enough.

Franklin BSP Realty Trust, Inc. ( FBRT ) Q3 2025 Earnings Call October 30, 2025 9:00 AM EDT Company Participants Lindsey Crabbe - Director of Investor Relations Richard Byrne - Chairman & CEO Jerome Baglien - CFO, COO & Treasurer Michael Comparato - President Conference Call Participants Matthew Erdner - JonesTrading Institutional Services, LLC, Research Division Timothy D'Agostino - B. Riley Securities, Inc., Research Division Christopher Muller - Citizens JMP Securities, LLC, Research Division Presentation Operator Good day, and welcome to the Franklin BSP Realty Trust Third Quarter 2025 Earnings Conference Call.

FBRT Reports Earnings

Franklin BSP (FBRT) came out with quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to a loss of $0.1 per share a year ago.

NEW YORK--(BUSINESS WIRE)--Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended September 30, 2025. Reported GAAP net income of $17.6 million for the three months ended September 30, 2025, compared to $24.4 million for the three months ended June 30, 2025. Reported diluted earnings per share ("EPS") to common stockholders of $0.12 for the three months ended September 30, 2025, compared to $0.19 for the three months ended.

NEW YORK--(BUSINESS WIRE)--Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced that it will release its third quarter 2025 results on Wednesday, October 29, 2025, after the close of trading on the New York Stock Exchange. The Company will host a conference call and live audio webcast to discuss its financial results on Thursday, October 30, 2025, at 9:00 a.m. ET. All conference call and webcast information can be found on the Company's website at https://www.f.

A common psychological phenomenon among investors is the appeal of the stock with a low price per share—meaning a company with shares that trade at a low cost, not necessarily one in which shares are undervalued.

NEW YORK--(BUSINESS WIRE)--Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT”) today announced the pricing of BSPRT 2025-FL12 (“FL12”), a $1.076 billion managed Commercial Real Estate Collateralized Loan Obligation. FL12 features a 30-month reinvestment period. The transaction has an initial advance rate of 88% and a weighted average interest cost of 1M CME Term SOFR+1.61% before accounting for discount and transaction costs. The transaction is expected to settle on October 15, 2025. Concurre.