Franklin BSP Realty Trust Inc

Chart & Performance

D1W1MN

Profile

Franklin BSP Realty Trust, Inc., a real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt secured by properties located in the United States. The company also originates conduit loans; and invests in commercial real estate securities, as well as owns real estate acquired through foreclosure and deed in lieu of foreclosure, and purchased for investment. In addition, it invests in commercial real estate debt investments, which includes first mortgage loans, mezzanine loans, bridge loans, and other loans related to commercial real estate. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Benefit Street Partners Realty Trust, Inc. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.

URL

https://www.fbrtreit.com/

IPO date

Oct 19, 2021

Employees

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	230,794 -37.17%	367,360 65.74%	221,649 20.35%
Cost of revenue	373,895	229,878	108,253
Unusual Expense (Income)
NOPBT	(143,101)	137,482	113,396
NOPBT Margin		37.42%	51.16%
Operating Taxes	(2,757)	(399)	3,599
Tax Rate			3.17%
NOPAT	(140,344)	137,881	109,797
Net income	145,215 906.27%	14,431 -43.85%	25,702 -53.05%
Dividends	(144,347)	(139,415)	(67,955)
Dividend yield	12.98%	15.09%	10.48%
Proceeds from repurchase of equity	(12,505)	(16,579)	17,082,800
BB yield	1.12%	1.79%	-2,633.46%
Debt
Debt current	174,055	440,008	4,178,784
Long-term debt	4,357,190	4,014,692	4,458,113
Deferred revenue		4,530,465	7,666,645
Other long-term liabilities	89,748	94,812	128,950
Net debt	3,944,989	3,818,633	3,915,097
Cash flow
Cash from operating activities	197,387	152,515	146,497
CAPEX		(663)	2,881,426
Cash from investing activities	380,807	3,097,265	1,068,747
Cash from financing activities	(424,994)	(3,227,492)	(1,139,186)
FCF	(6,086,003)	(4,553,554)	5,074,113
Balance
Cash	343,687	415,042	154,929
Long term investments	242,569	221,025	4,566,871
Excess cash	574,716	617,699	4,710,718
Stockholders' equity	76,760	(23,859)	808,137
Invested Capital	5,781,952	10,675,796	16,269,928
ROIC		1.02%	1.03%
ROCE		2.25%	1.20%
EV
Common stock shares outstanding	82,308	71,628	43,419
Price	13.51 4.73%	12.90 -13.65%	14.94 -15.45%
Market cap	1,111,981 20.34%	924,006 42.44%	648,683 -16.47%
EV	5,432,555	5,016,789	5,538,717
EBITDA	(135,973)	142,811	115,503
EV/EBITDA		35.13	47.95
Interest	305,577	165,708	60,835
Interest/NOPBT		120.53%	53.65%