(FBRT) BSP Realty Trust - Overview
Stock: Commercial, Real, Estate, Loans, Securities
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 12.92% |
| Yield on Cost 5y | 42.01% |
| Yield CAGR 5y | 0.00% |
| Payout Consistency | 97.0% |
| Payout Ratio | 1.8% |
| Risk 5d forecast | |
|---|---|
| Volatility | 21.1% |
| Relative Tail Risk | -0.95% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.37 |
| Alpha | -17.40 |
| Character TTM | |
|---|---|
| Beta | 0.543 |
| Beta Downside | 0.635 |
| Drawdowns 3y | |
|---|---|
| Max DD | 24.85% |
| CAGR/Max DD | 0.00 |
Description: FBRT BSP Realty Trust January 25, 2026
Franklin BSP Realty Trust, Inc. (FBRT) is a REIT-structured real-estate finance firm that originates, acquires, and manages a diversified portfolio of commercial-real-estate debt instruments-including first-mortgage, mezzanine, bridge, and conduit loans-secured by U.S. and international properties. In addition to loan assets, the company holds foreclosed real-estate assets and invests in commercial-real-estate securities, aiming to generate income that can be distributed to shareholders to maintain its REIT tax status.
As of Q4 2023, FBRT reported a loan portfolio of approximately $1.2 billion, with an average weighted-average coupon of 5.3% and a weighted-average loan-to-value (LTV) of 62%, indicating moderate leverage and a relatively defensive risk profile. The firm’s dividend yield hovered around 7.2% and its payout ratio exceeded 95%, reflecting its commitment to meet the 90% distribution requirement. Macro-level, the commercial-real-estate market is currently pressured by rising interest rates (the 10-year Treasury yield at ~4.4%) and elevated vacancy rates in office spaces, which together compress loan spreads and elevate credit-risk considerations for new originations.
For a deeper dive into FBRT’s credit metrics and scenario-based stress tests, consider checking ValueRay’s analytical dashboard.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: 68.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -3.87 > 1.0 |
| NWC/Revenue: 905.0% < 20% (prev 960.4%; Δ -55.39% < -1%) |
| CFO/TA -0.01 > 3% & CFO -75.2m > Net Income 68.5m |
| Net Debt (4.24b) to EBITDA (103.6m): 40.94 < 3 |
| Current Ratio: 23.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (90.6m) vs 12m ago 10.77% < -2% |
| Gross Margin: 20.08% > 18% (prev 0.66%; Δ 1942 % > 0.5%) |
| Asset Turnover: 8.85% > 50% (prev 8.67%; Δ 0.18% > 0%) |
| Interest Coverage Ratio: 0.32 > 6 (EBITDA TTM 103.6m / Interest Expense TTM 297.8m) |
Altman Z'' 5.11
| A: 0.81 (Total Current Assets 5.25b - Total Current Liabilities 224.7m) / Total Assets 6.22b |
| B: -0.06 (Retained Earnings -392.8m / Total Assets 6.22b) |
| C: 0.02 (EBIT TTM 96.0m / Avg Total Assets 6.28b) |
| D: -0.08 (Book Value of Equity -392.0m / Total Liabilities 4.65b) |
| Altman-Z'' Score: 5.11 = AAA |
What is the price of FBRT shares?
Over the past week, the price has changed by +1.76%, over one month by +4.32%, over three months by +1.19% and over the past year by -5.79%.
Is FBRT a buy, sell or hold?
- StrongBuy: 4
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the FBRT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 14.4 | 38% |
| Analysts Target Price | 14.4 | 38% |
| ValueRay Target Price | 11.8 | 13.1% |
FBRT Fundamental Data Overview January 26, 2026
P/S = 3.4439
P/B = 0.6786
Revenue TTM = 555.6m USD
EBIT TTM = 96.0m USD
EBITDA TTM = 103.6m USD
Long Term Debt = 4.23b USD (from longTermDebt, last quarter)
Short Term Debt = 131.7m USD (from shortTermDebt, last quarter)
Debt = 4.36b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.24b USD (from netDebt column, last quarter)
Enterprise Value = 5.07b USD (830.2m + Debt 4.36b - CCE 116.7m)
Interest Coverage Ratio = 0.32 (Ebit TTM 96.0m / Interest Expense TTM 297.8m)
EV/FCF = -67.31x (Enterprise Value 5.07b / FCF TTM -75.3m)
FCF Yield = -1.49% (FCF TTM -75.3m / Enterprise Value 5.07b)
FCF Margin = -13.56% (FCF TTM -75.3m / Revenue TTM 555.6m)
Net Margin = 12.34% (Net Income TTM 68.5m / Revenue TTM 555.6m)
Gross Margin = 20.08% ((Revenue TTM 555.6m - Cost of Revenue TTM 444.0m) / Revenue TTM)
Gross Margin QoQ = 44.01% (prev 41.25%)
Tobins Q-Ratio = 0.82 (Enterprise Value 5.07b / Total Assets 6.22b)
Interest Expense / Debt = 1.76% (Interest Expense 76.5m / Debt 4.36b)
Taxrate = 1.20% (1.12m / 93.5m)
NOPAT = 94.8m (EBIT 96.0m * (1 - 1.20%))
Current Ratio = 23.37 (Total Current Assets 5.25b / Total Current Liabilities 224.7m)
Debt / Equity = 2.96 (Debt 4.36b / totalStockholderEquity, last quarter 1.47b)
Debt / EBITDA = 40.94 (Net Debt 4.24b / EBITDA 103.6m)
Debt / FCF = -56.29 (negative FCF - burning cash) (Net Debt 4.24b / FCF TTM -75.3m)
Total Stockholder Equity = 1.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.09% (Net Income 68.5m / Total Assets 6.22b)
RoE = 4.59% (Net Income TTM 68.5m / Total Stockholder Equity 1.49b)
RoCE = 1.68% (EBIT 96.0m / Capital Employed (Equity 1.49b + L.T.Debt 4.23b))
RoIC = 1.76% (NOPAT 94.8m / Invested Capital 5.39b)
WACC = 2.72% (E(830.2m)/V(5.19b) * Re(7.92%) + D(4.36b)/V(5.19b) * Rd(1.76%) * (1-Tc(0.01)))
Discount Rate = 7.92% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 4.92%
Fair Price DCF = unknown (Cash Flow -75.3m)
EPS Correlation: -50.60 | EPS CAGR: -28.49% | SUE: -1.50 | # QB: 0
Revenue Correlation: 72.20 | Revenue CAGR: 15.25% | SUE: 0.31 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.30 | Chg30d=+0.003 | Revisions Net=+1 | Analysts=4
EPS next Year (2026-12-31): EPS=1.35 | Chg30d=+0.005 | Revisions Net=+1 | Growth EPS=+105.3% | Growth Revenue=+39.1%