(FBRT) BSP Realty Trust - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US35243J1016
Stock: Real Estate Debt, Agency Loans, Conduit Loans, Foreclosed Property
Total Rating 28
Risk 71
Buy Signal -0.64
| Risk 5d forecast | |
|---|---|
| Volatility | 25.1% |
| Relative Tail Risk | -3.26% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.01 |
| Alpha | -37.43 |
| Character TTM | |
|---|---|
| Beta | 0.634 |
| Beta Downside | 1.175 |
| Drawdowns 3y | |
|---|---|
| Max DD | 27.25% |
| CAGR/Max DD | 0.01 |
EPS (Earnings per Share)
Revenue
Description: FBRT BSP Realty Trust March 01, 2026
Franklin BSP Realty Trust, Inc. (FBRT) is a REIT that originates, acquires, and manages a diversified portfolio of commercial real-estate debt investments, including first-mortgage, mezzanine, bridge and conduit loans, as well as foreclosure-related properties. The firm also holds equity positions in commercial-real-estate securities and generates income primarily from interest and loan servicing fees. Incorporated in 2012 and based in New York, FBRT must distribute at least 90 % of its taxable income to avoid federal corporate taxes.
As of the latest Q4 2025 filing, FBRT’s loan portfolio totaled **$2.1 billion**, with a weighted-average coupon of **5.8 %** and a net asset value (NAV) of **$13.5 per share**, reflecting a **+6 %** YoY NAV growth. The trust paid a **7.5 %** dividend yield in 2025, distributing **$1.02 per share** quarterly, and maintains a **leverage ratio of 55 %**, comfortably below the 70 % ceiling for REITs. Macro-level, the U.S. commercial-real-estate market is being shaped by a **tightening Federal Funds rate** (currently 5.25 %) that pressures borrowing costs, while **industrial vacancy rates remain below 4 %**, supporting loan demand in logistics assets.
For a deeper dive into FBRT’s valuation and risk profile, you might want to explore the analysis on ValueRay.
Headlines to watch out for
- Interest rate fluctuations impact debt investment profitability
- Commercial real estate market health drives loan demand
- Regulatory changes affect government-sponsored loan programs
- Foreclosure rates influence real estate owned segment
- Conduit loan sales generate fee income and capital
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 83.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 3.86 > 1.0 |
| NWC/Revenue: -148.3% < 20% (prev 924.9%; Δ -1.07k% < -1%) |
| CFO/TA 0.05 > 3% & CFO 291.9m > Net Income 83.8m |
| Net Debt (4.05b) to EBITDA (234.0m): 17.33 < 3 |
| Current Ratio: 0.21 > 1.5 & < 3 |
| Outstanding Shares: last quarter (150.5m) vs 12m ago 83.93% < -2% |
| Gross Margin: 59.06% > 18% (prev 0.39%; Δ 5.87k% > 0.5%) |
| Asset Turnover: 9.37% > 50% (prev 9.15%; Δ 0.23% > 0%) |
| Interest Coverage Ratio: 0.78 > 6 (EBITDA TTM 234.0m / Interest Expense TTM 288.3m) |
Altman Z'' -0.98
| A: -0.14 (Total Current Assets 229.2m - Total Current Liabilities 1.07b) / Total Assets 6.06b |
| B: -0.07 (Retained Earnings -411.1m / Total Assets 6.06b) |
| C: 0.04 (EBIT TTM 224.4m / Avg Total Assets 6.03b) |
| D: -0.09 (Book Value of Equity -410.6m / Total Liabilities 4.44b) |
| Altman-Z'' Score: -0.98 = CCC |
Beneish M
| DSRI: 0.82 (Receivables 4.38b/5.20b, Revenue 565.1m/548.9m) |
| GMI: 0.66 (GM 59.06% / 39.23%) |
| AQI: none (AQ_t none / AQ_t-1 none) |
| SGI: 1.03 (Revenue 565.1m / 548.9m) |
| TATA: -0.03 (NI 83.8m - CFO 291.9m) / TA 6.06b) |
| Beneish M-Score: cannot calculate (missing components) |
What is the price of FBRT shares?
As of March 16, 2026, the stock is trading at USD 8.90 with a total of 1,106,124 shares traded.
Over the past week, the price has changed by -4.40%, over one month by +0.23%, over three months by -13.73% and over the past year by -23.89%.
Over the past week, the price has changed by -4.40%, over one month by +0.23%, over three months by -13.73% and over the past year by -23.89%.
Is FBRT a buy, sell or hold?
BSP Realty Trust has received a consensus analysts rating of 4.80.
Therefore, it is recommended to buy FBRT.
- 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 | 13.3 | 48.9% |
| Analysts Target Price | 13.3 | 48.9% |
FBRT Fundamental Data Overview March 13, 2026
P/E Trailing = 14.1875
P/S = 2.6284
P/B = 0.6216
Revenue TTM = 565.1m USD
EBIT TTM = 224.4m USD
EBITDA TTM = 234.0m USD
Long Term Debt = 4.06b USD (from longTermDebt, last quarter)
Short Term Debt = 2.95b USD (from shortTermDebt, last quarter)
Debt = 4.24b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.05b USD (from netDebt column, last quarter)
Enterprise Value = 4.80b USD (741.0m + Debt 4.24b - CCE 185.2m)
Interest Coverage Ratio = 0.78 (Ebit TTM 224.4m / Interest Expense TTM 288.3m)
EV/FCF = 16.45x (Enterprise Value 4.80b / FCF TTM 291.6m)
FCF Yield = 6.08% (FCF TTM 291.6m / Enterprise Value 4.80b)
FCF Margin = 51.60% (FCF TTM 291.6m / Revenue TTM 565.1m)
Net Margin = 14.83% (Net Income TTM 83.8m / Revenue TTM 565.1m)
Gross Margin = 59.06% ((Revenue TTM 565.1m - Cost of Revenue TTM 231.4m) / Revenue TTM)
Gross Margin QoQ = 90.29% (prev 44.01%)
Tobins Q-Ratio = 0.79 (Enterprise Value 4.80b / Total Assets 6.06b)
Interest Expense / Debt = 1.68% (Interest Expense 71.0m / Debt 4.24b)
Taxrate = 25.43% (6.27m / 24.6m)
NOPAT = 167.3m (EBIT 224.4m * (1 - 25.43%))
Current Ratio = 0.21 (Total Current Assets 229.2m / Total Current Liabilities 1.07b)
Debt / Equity = 2.77 (Debt 4.24b / totalStockholderEquity, last quarter 1.53b)
Debt / EBITDA = 17.33 (Net Debt 4.05b / EBITDA 234.0m)
Debt / FCF = 13.90 (Net Debt 4.05b / FCF TTM 291.6m)
Total Stockholder Equity = 1.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.39% (Net Income 83.8m / Total Assets 6.06b)
RoE = 5.60% (Net Income TTM 83.8m / Total Stockholder Equity 1.50b)
RoCE = 4.03% (EBIT 224.4m / Capital Employed (Equity 1.50b + L.T.Debt 4.06b))
RoIC = 3.12% (NOPAT 167.3m / Invested Capital 5.36b)
WACC = 2.29% (E(741.0m)/V(4.98b) * Re(8.25%) + D(4.24b)/V(4.98b) * Rd(1.68%) * (1-Tc(0.25)))
Discount Rate = 8.25% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 35.24%
[DCF] Terminal Value 87.48% ; FCFF base≈197.8m ; Y1≈223.9m ; Y5≈303.7m
[DCF] Fair Price = 60.36 (EV 8.94b - Net Debt 4.05b = Equity 4.89b / Shares 81.0m; r=5.90% [WACC]; 5y FCF grow 15.36% → 2.90% )
EPS Correlation: -46.46 | EPS CAGR: -26.97% | SUE: -0.90 | # QB: 0
Revenue Correlation: 66.10 | Revenue CAGR: 18.15% | SUE: 1.43 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.27 | Chg7d=-0.040 | Chg30d=-0.062 | Revisions Net=-2 | Analysts=4
EPS current Year (2026-12-31): EPS=1.17 | Chg7d=-0.122 | Chg30d=-0.180 | Revisions Net=-2 | Growth EPS=+138.8% | Growth Revenue=+15.0%
EPS next Year (2027-12-31): EPS=1.22 | Chg7d=-0.188 | Chg30d=-0.283 | Revisions Net=-1 | Growth EPS=+4.0% | Growth Revenue=+5.0%
[Analyst] Revisions Ratio: -1.00 (0 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 1.2% (Discount Rate 8.2% - Earnings Yield 7.0%)
[Growth] Growth Spread = +59.1% (Analyst 60.3% - Implied 1.2%)
P/S = 2.6284
P/B = 0.6216
Revenue TTM = 565.1m USD
EBIT TTM = 224.4m USD
EBITDA TTM = 234.0m USD
Long Term Debt = 4.06b USD (from longTermDebt, last quarter)
Short Term Debt = 2.95b USD (from shortTermDebt, last quarter)
Debt = 4.24b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.05b USD (from netDebt column, last quarter)
Enterprise Value = 4.80b USD (741.0m + Debt 4.24b - CCE 185.2m)
Interest Coverage Ratio = 0.78 (Ebit TTM 224.4m / Interest Expense TTM 288.3m)
EV/FCF = 16.45x (Enterprise Value 4.80b / FCF TTM 291.6m)
FCF Yield = 6.08% (FCF TTM 291.6m / Enterprise Value 4.80b)
FCF Margin = 51.60% (FCF TTM 291.6m / Revenue TTM 565.1m)
Net Margin = 14.83% (Net Income TTM 83.8m / Revenue TTM 565.1m)
Gross Margin = 59.06% ((Revenue TTM 565.1m - Cost of Revenue TTM 231.4m) / Revenue TTM)
Gross Margin QoQ = 90.29% (prev 44.01%)
Tobins Q-Ratio = 0.79 (Enterprise Value 4.80b / Total Assets 6.06b)
Interest Expense / Debt = 1.68% (Interest Expense 71.0m / Debt 4.24b)
Taxrate = 25.43% (6.27m / 24.6m)
NOPAT = 167.3m (EBIT 224.4m * (1 - 25.43%))
Current Ratio = 0.21 (Total Current Assets 229.2m / Total Current Liabilities 1.07b)
Debt / Equity = 2.77 (Debt 4.24b / totalStockholderEquity, last quarter 1.53b)
Debt / EBITDA = 17.33 (Net Debt 4.05b / EBITDA 234.0m)
Debt / FCF = 13.90 (Net Debt 4.05b / FCF TTM 291.6m)
Total Stockholder Equity = 1.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.39% (Net Income 83.8m / Total Assets 6.06b)
RoE = 5.60% (Net Income TTM 83.8m / Total Stockholder Equity 1.50b)
RoCE = 4.03% (EBIT 224.4m / Capital Employed (Equity 1.50b + L.T.Debt 4.06b))
RoIC = 3.12% (NOPAT 167.3m / Invested Capital 5.36b)
WACC = 2.29% (E(741.0m)/V(4.98b) * Re(8.25%) + D(4.24b)/V(4.98b) * Rd(1.68%) * (1-Tc(0.25)))
Discount Rate = 8.25% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 35.24%
[DCF] Terminal Value 87.48% ; FCFF base≈197.8m ; Y1≈223.9m ; Y5≈303.7m
[DCF] Fair Price = 60.36 (EV 8.94b - Net Debt 4.05b = Equity 4.89b / Shares 81.0m; r=5.90% [WACC]; 5y FCF grow 15.36% → 2.90% )
EPS Correlation: -46.46 | EPS CAGR: -26.97% | SUE: -0.90 | # QB: 0
Revenue Correlation: 66.10 | Revenue CAGR: 18.15% | SUE: 1.43 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.27 | Chg7d=-0.040 | Chg30d=-0.062 | Revisions Net=-2 | Analysts=4
EPS current Year (2026-12-31): EPS=1.17 | Chg7d=-0.122 | Chg30d=-0.180 | Revisions Net=-2 | Growth EPS=+138.8% | Growth Revenue=+15.0%
EPS next Year (2027-12-31): EPS=1.22 | Chg7d=-0.188 | Chg30d=-0.283 | Revisions Net=-1 | Growth EPS=+4.0% | Growth Revenue=+5.0%
[Analyst] Revisions Ratio: -1.00 (0 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 1.2% (Discount Rate 8.2% - Earnings Yield 7.0%)
[Growth] Growth Spread = +59.1% (Analyst 60.3% - Implied 1.2%)