Franklin BSP Realty Trust
Originates commercial-real-estate debt and agency multifamily loans with servicing capabilities.
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Profile
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
Categories
Key statistics
Year to date −16.3% · Average volume (30d) 1.4M
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.24 | $0.25 | +5.9% | $81.0M | $65.3M | −19.4% | +2.79% |
| Apr 29, 2026Q1 FY26 | $0.22 | $0.22 | 0.0% | $73.1M | $74.4M | +1.8% | +1.45% |
| Feb 11, 2026Q4 FY25 | $0.26 | $0.12 | −53.8% | $93.6M | $81.1M | −13.4% | −14.19% |
| Oct 29, 2025Q3 FY25 | $0.30 | $0.22 | −25.4% | $81.4M | $89.5M | +10.0% | −3.94% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $124.5M | $119.5M | $136.6M | $145.0M | $133.8M | $141.5M | |
| Gross profit | $115.1M | $49.3M | $60.1M | $130.9M | $121.0M | $131.6M | |
| Operating income | $24.4M | $33.0M | $1.7M | $99.9M | $66.0M | $79.9M | |
| Net income | $24.1M | $23.2M | $17.3M | $19.3M | $12.0M | $15.6M | |
| Diluted EPS | $0.20 | $0.19 | $0.12 | $0.13 | $0.07 | $0.12 | |
| Gross margin | 92.5% | 41.2% | 44.0% | 90.3% | 90.4% | 93.0% | |
| Operating margin | 19.6% | 27.6% | 1.3% | 68.9% | 49.3% | 56.5% |
Fiscal years (4-quarter sums)FY21 $221.6M · FY22 $367.4M · FY23 $569.5M · FY24 $548.9M · FY25 $525.5M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $155.0M · Total debt $4.18B · Total assets $6.38B · Shareholders' equity $1.46B
Dividends
Raised for 3 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 10 | $0.20 | |
| Mar 31, 2026 | Mar 31 | Apr 10 | $0.20 | cut from $0.355 |
| Dec 31, 2025 | Dec 31 | Jan 12 | $0.355 | |
| Sep 30, 2025 | Sep 30 | Oct 10 | $0.355 | |
| Jun 30, 2025 | Jun 30 | Jul 10 | $0.355 | |
| Mar 31, 2025 | Mar 31 | Apr 10 | $0.355 | |
| Dec 31, 2024 | Dec 31 | Jan 10 | $0.355 | |
| Sep 30, 2024 | Sep 30 | Oct 10 | $0.355 |
Ownership
Shares outstanding 83.05M · Float 80.95M · 97.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.00M | 15.66% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 3.43M | 4.13% | 13F | Aug 13, 2026 |
| State Street Corp | 3.24M | 3.90% | 13F | Aug 7, 2026 |
| Geode Capital Management, LLC | 2.07M | 2.49% | 13F | Aug 12, 2026 |
| Invesco Ltd. | 1.85M | 2.23% | 13F | Aug 14, 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 |
Peers
- Blackstone Mortgage Trust
Senior commercial real-estate lending at institutional scale
- Starwood Property Trust
Diversified commercial lending, conduit, and servicing platform
- KKR Real Estate Finance Trust
Floating-rate senior CRE loans for institutional sponsors
- TPG RE Finance Trust
Floating-rate first-mortgage lender across U.S. CRE sectors
- Arbor Realty Trust
Multifamily bridge lending with agency loan origination and servicing
- BrightSpire Capital
Commercial real-estate credit investor focused on senior mortgages
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Franklin BSP Realty Trust | $8.46 | −0.06% | $702.6M | 19.1 | 8.0 | 1.3 | −45.4% |
| Blackstone Mortgage Trust | $13.75 | +0.18% | $2.31B | 171.6 | 10.9 | 1.5 | +18.1% |
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| KKR Real Estate Finance Trust | $7.59 | +0.20% | $488.0M | — | — | 1.2 | −82.3% |
| TPG RE Finance Trust | $7.73 | −0.06% | $593.4M | 14.3 | 7.2 | 2.2 | −58.7% |
| Arbor Realty Trust | $5.06 | 0.00% | $973.3M | 37.4 | 12.0 | 0.8 | −11.1% |
| BrightSpire Capital | $4.75 | 0.00% | $601.0M | — | 7.8 | 1.8 | −0.9% |
| Median | 30.3 | 9.4 | 1.7 | −6.0% |