FBRT Stock Analysis: BSP Realty Trust | NYSE
REIT - Mortgage | NYSE, USA | Market Cap: 512m USD | 12M Return: -34.3% | US35243J1016 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.27M
EPS Trend: -87.2%
Qual. Beats: -1
Rev. Trend: -67.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Franklin BSP Realty Trust, Inc. (FBRT) is a real estate finance company structured as a real estate investment trust (REIT) that originates and manages a diversified portfolio of commercial real estate debt investments in the United States and internationally. As a REIT, the company is generally required to distribute the majority of its taxable income to shareholders, shaping its focus on income-generating debt assets.
The company operates through four business segments: the Real Estate Debt Business (originating and asset managing commercial real estate debt such as first mortgages, subordinate mortgages, mezzanine loans, and real estate securities); the Agency Business (originating, selling, and servicing loans under government-sponsored enterprise and agency programs such as those of Fannie Mae and Freddie Mac); the Commercial Real Estate Conduit Business (originating and selling fixed-rate commercial real estate loans); and the Real Estate Owned Business (managing real estate acquired through foreclosure or deed-in-lieu of foreclosure). The company also originates conduit loans.
Franklin BSP Realty Trust was incorporated in 2012 and is headquartered in New York, New York. It was formerly known as Benefit Street Partners Realty Trust, Inc. before rebranding in October 2021, the same period surrounding its 2021 IPO on the NYSE.
- Net interest margin compression pressures earnings as Fed cuts rates
- Commercial real estate loan defaults rise amid office sector stress
- Conduit and Agency origination volumes drive fee-based revenue
| Net Income: 20.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 4.80 > 1.0 |
| NWC/Revenue: 10.82% < 20% (prev 974.4%; Δ -963.6% < -1%) |
| CFO/TA 0.04 > 3% & CFO 216.6m > Net Income 20.1m |
| Net Debt (4.13b) to EBITDA (307.4m): 13.42 < 3 |
| Current Ratio: 1.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (80.8m) vs 12m ago -10.87% < -2% |
| Gross Margin: 85.10% > 18% (prev 25.82%; Δ 59.28% > 0.5%) |
| Asset Turnover: 7.07% > 50% (prev 8.30%; Δ -1.23% > 0%) |
| Interest Coverage Ratio: 1.13 > 6 (EBIT TTM 296.4m / Interest Expense TTM 263.4m) |
| A: 0.01 (Total Current Assets 155.5m - Total Current Liabilities 108.7m) / Total Assets 6.03b |
| B: -0.08 (Retained Earnings -474.5m / Total Assets 6.03b) |
| C: 0.05 (EBIT TTM 296.4m / Avg Total Assets 6.12b) |
| D: 0.29 (Book Value of Equity 1.35b / Total Liabilities 4.58b) |
| Altman-Z'' = 0.43 = B |
As of November 03, 2026, the stock is trading at USD 6.01 with a total of 1,141,803 shares traded. Over the past week, the price has changed by -3.69%, over one month by -7.82%, over three months by -19.97% and over the past year by -34.26%.
Current recommended Stop Loss: 5.60 (which is 6.8% or 1.8 ATR below the current price).
BSP Realty Trust has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy FBRT.
- StrongBuy: 2
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 11.7 | 94.2% |
P/S = 2.1832
P/B = 0.4727
Revenue TTM = 432.6m USD
EBIT TTM = 296.4m USD
EBITDA TTM = 307.4m USD
Long Term Debt = 3.88b USD (from longTermDebt, last quarter)
Short Term Debt = 39.5m USD (from shortLongTermDebt, last quarter)
Debt = 4.25b USD (from shortLongTermDebtTotal, last fiscal year) + Leases 524k
Net Debt = 4.13b USD (calculated: Debt 4.25b - CCE 125.6m)
Enterprise Value = 4.64b USD (511.6m + Debt 4.25b - CCE 125.6m)
Interest Coverage Ratio = 1.13 (Ebit TTM 296.4m / Interest Expense TTM 263.4m)
EV/FCF = 21.43x (Enterprise Value 4.64b / FCF TTM 216.4m)
FCF Yield = 4.67% (FCF TTM 216.4m / Enterprise Value 4.64b)
FCF Margin = 50.02% (FCF TTM 216.4m / Revenue TTM 432.6m)
Net Margin = 4.65% (Net Income TTM 20.1m / Revenue TTM 432.6m)
Gross Margin = 85.10% ((Revenue TTM 432.6m - Cost of Revenue TTM 64.4m) / Revenue TTM)
Gross Margin QoQ = -124.3% (prev 92.98%)
Tobins Q-Ratio = 0.77 (Enterprise Value 4.64b / Total Assets 6.03b)
Interest Expense / Debt = 6.20% (Interest Expense 263.4m / Debt 4.25b)
Taxrate = 4.42% (3.88m / 88.0m)
NOPAT = 283.3m (EBIT 296.4m * (1 - 4.42%))
Current Ratio = 1.43 (Total Current Assets 155.5m / Total Current Liabilities 108.7m)
Debt / Equity = 3.16 (Debt 4.25b / totalStockholderEquity, last quarter 1.35b)
Debt / EBITDA = 13.42 (Net Debt 4.13b / EBITDA 307.4m)
Debt / FCF = 19.06 (Net Debt 4.13b / FCF TTM 216.4m)
Total Stockholder Equity = 1.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.33% (Net Income 20.1m / Total Assets 6.03b)
RoE = 1.43% (Net Income TTM 20.1m / Total Stockholder Equity 1.41b)
RoCE = 5.60% (EBIT 296.4m / Capital Employed (Equity 1.41b + L.T.Debt 3.88b))
RoIC = 4.66% (NOPAT 283.3m / Invested Capital 6.08b)
WACC = 6.08% (E(511.6m)/V(4.76b) * Re(7.37%) + D(4.25b)/V(4.76b) * Rd(6.20%) * (1-Tc(0.04)))
Discount Rate = 7.37% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 18.30 | Cagr: -0.58%
[DCF] Terminal Value 75.44% ; FCFF base≈216.4m ; Y1≈217.3m ; Y5≈230.2m
[DCF] Fair Price = N/A (negative equity: EV 3.58b - Net Debt 4.13b = -545.4m; debt exceeds intrinsic value)
EPS Correlation: -87.19 | EPS CAGR: -42.36% | SUE: -1.32 | # QB: -1
Revenue Correlation: -67.30 | Revenue CAGR: -5.41% | SUE: -0.54 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.26 | Chg30d=-0.77% | Revisions=+25% | Analysts=5
EPS current Year (2026-12-31): EPS=0.80 | Chg30d=-4.99% | Revisions=+25% | GrowthEPS=+63.3% | GrowthRev=+4.0%
EPS next Year (2027-12-31): EPS=1.11 | Chg30d=-0.89% | Revisions=-25% | GrowthEPS=+39.2% | GrowthRev=+9.3%
[Analyst] Revisions Ratio: +17% (up=2, down=1)