Earnings summaries and quarterly performance for Franklin BSP Realty Trust.
Executive leadership at Franklin BSP Realty Trust.
Board of directors at Franklin BSP Realty Trust.
Research analysts who have asked questions during Franklin BSP Realty Trust earnings calls.
ME
Matthew Erdner
JonesTrading Institutional Services
7 questions for FBRT
Also covers: ACR, ADAM, AGNC +23 more
SD
Steve Delaney
Citizens JMP Securities, LLC
4 questions for FBRT
Also covers: LADR, MFA, RWT +1 more
JS
Jason Stewart
Janney Montgomery Scott LLC
3 questions for FBRT
Also covers: AGNC, AJX, AOMR +12 more
WC
William Catherwood
BTIG
3 questions for FBRT
Also covers: ARE, ARI, BRSP +14 more
Randolph Binner
B. Riley Financial, Inc.
2 questions for FBRT
Also covers: ABL, AOMR, ARR +12 more
Randy Binner
B. Riley Securities
2 questions for FBRT
Also covers: ARR, BRSP, BUR +14 more
Stephen Laws
Raymond James
2 questions for FBRT
Also covers: ABR, ACR, AJX +16 more
SD
Steven Delaney
Citizens JMP Capital
2 questions for FBRT
Also covers: ABR, ACRE, ARI +12 more
Timothy D'Agostino
B. Riley Securities
2 questions for FBRT
Also covers: ADAM, AOMR, ARR +12 more
Tom Catherwood
BTIG
2 questions for FBRT
Also covers: BXMT, HPP, KREF +2 more
John Nickodemus
BTIG
1 question for FBRT
Also covers: ACRE, ARI, BRSP +5 more
JN
John Nigodimus
BTIG
1 question for FBRT
Recent press releases and 8-K filings for FBRT.
Franklin BSP Realty Trust Reports Q4 2025 Results
FBRT
Earnings
Dividends
Share Buyback
- Franklin BSP Realty Trust reported GAAP Net Income of $18.4 million or $0.13 per diluted common share and Distributable Earnings of $17.9 million or $0.12 per fully converted share for Q4 2025.
- The company declared a Q4 2025 cash dividend of $0.355 per share and reported a fully-converted book value per share of $14.15.
- FBRT repurchased $14.4 million of common stock, which resulted in $0.05 of accretion to fully-converted book value per share.
- The NewPoint agency business originated $1.1 billion of new loan commitments in Q4 2025, with its Distributable Earnings for FY 2025 reaching $20 million, exceeding prior guidance. NewPoint also provided FY 2026 Distributable Earnings guidance of $25 million to $33 million.
- The company maintained $821 million of liquidity, including $167 million in cash.
Feb 12, 2026, 2:00 PM
Franklin BSP Realty Trust Announces Leadership Changes and Dividend Reset
FBRT
Management Change
Dividends
New Projects/Investments
- Franklin BSP Realty Trust (FBRT) announced Mike Comparato as its new Chief Executive Officer and Brian Buffone as President, effective immediately, with Richard Byrne remaining Chairman.
- For Q4 2025, FBRT reported GAAP net income of $18.4 million ($0.13 per fully converted common share) and distributable earnings of $17.9 million ($0.12 per fully converted share). The company also reset its quarterly dividend to $0.20 per common share starting Q1 2026, citing reasons such as earnings undercovering the dividend and a strategic shift.
- The company is repositioning itself from a pure-play mortgage REIT to a commercial real estate investment platform, emphasizing earning stability and long-term book value growth through initiatives like the NewPoint acquisition, which is projected to contribute $25 million-$33 million annually in distributable earnings.
- FBRT repurchased $14.4 million of common stock in Q4 2025 and reauthorized a $50 million share repurchase program through December 31, 2026, to further support its stock price.
Feb 12, 2026, 2:00 PM
Franklin BSP Realty Trust Announces Q4 2025 Results, Leadership Changes, and Dividend Reset
FBRT
Dividends
Management Change
Earnings
- Mike Comparato has been appointed Chief Executive Officer and Brian Buffone as President, effective immediately, with Rich Byrne remaining as Chairman.
- The quarterly dividend has been reset to $0.20 per common share starting Q1 2026, a strategic decision to stabilize book value and align with current earnings, reflecting the company's repositioning as a commercial real estate investment platform rather than a pure-play mortgage REIT.
- For Q4 2025, GAAP net income was $18.4 million ($0.13 per fully converted common share) and distributable earnings were $17.9 million ($0.12 per fully converted share), with book value per share ending at $14.15.
- FBRT repurchased $14.4 million of common stock in Q4 2025 and reauthorized $50 million for future repurchases through December 31, 2026. The company aims to grow its core loan portfolio to $4.8 billion-$5 billion by year-end and anticipates earnings to increase towards $0.35-$0.36 per share.
Feb 12, 2026, 2:00 PM
Franklin BSP Realty Trust Announces Leadership Changes, Dividend Reset, and Q4 2025 Results
FBRT
Management Change
Dividends
Earnings
- Mike Comparato has been appointed Chief Executive Officer, and Brian Buffone will assume the role of President, effective immediately, while Richard Byrne remains actively engaged as Chairman.
- The company's board has approved a reset of the quarterly dividend to $0.20 per common share, effective beginning the first quarter of 2026, to stabilize book value and better match current earnings to the dividend.
- For Q4 2025, FBRT reported GAAP net income of $18.4 million or $0.13 per fully converted common share, and distributable earnings of $17.9 million or $0.12 per fully converted share. Excluding realized losses, distributable earnings were $0.22 per fully converted share.
- FBRT is repositioning as a commercial real estate investment platform, no longer a pure-play mortgage REIT, with the acquisition of NewPoint expected to provide more earning stability and stronger long-term book value growth. NewPoint is expected to contribute $25 million-$33 million per year in distributable earnings.
- The company repurchased $14.4 million of common stock in Q4 2025 and reauthorized a $50 million share repurchase program through December 31, 2026. Management anticipates earnings to grow over the next several quarters, with a goal to return to $0.35-$0.36 per share.
Feb 12, 2026, 2:00 PM
Franklin BSP Realty Trust, Inc. Announces Fourth Quarter and Full Year 2025 Results
FBRT
Earnings
Dividends
M&A
- Franklin BSP Realty Trust, Inc. reported GAAP net income of $18.4 million and diluted EPS of $0.13 for the fourth quarter ended December 31, 2025, with full-year 2025 figures at $84.1 million and $0.64, respectively. Distributable Earnings for Q4 2025 were $17.9 million, or $0.12 per diluted common share, and $67.3 million, or $0.49 per diluted common share, for the full year.
- As of December 31, 2025, the company's book value was $14.15 per diluted common share. FBRT declared a Q4 2025 common stock cash dividend of $0.355 and repurchased 1,371,073 shares for $14.4 million during the quarter.
- Total liquidity stood at $820.6 million as of December 31, 2025. A key strategic move in 2025 was the acquisition of NewPoint Holdings JV LLC on July 1, 2025, which diversified the company's business lines.
Feb 11, 2026, 9:28 PM
Franklin BSP Realty Trust Announces Q4 and Full Year 2025 Results
FBRT
Earnings
Dividends
Share Buyback
- Franklin BSP Realty Trust, Inc. reported GAAP net income of $18.4 million and diluted EPS of $0.13 for Q4 2025, and $84.1 million and $0.64 for the full year 2025, respectively.
- The company's Distributable Earnings per diluted common share were $0.12 for Q4 2025 and $0.49 for FY 2025.
- As of December 31, 2025, the book value was $14.15 per diluted common share.
- The Board declared a Q4 2025 common stock cash dividend of $0.355 but subsequently reset the Q1 2026 dividend to $0.20 per common share to stabilize book value and match earnings power to distributions.
- FBRT repurchased 1,371,073 shares for $14.4 million in Q4 2025 and reauthorized $50.0 million for future share repurchases through December 31, 2026.
Feb 11, 2026, 9:15 PM
FBRT Announces Leadership Transition
FBRT
Management Change
CEO Change
Board Change
- Michael Comparato has been appointed Chief Executive Officer of Franklin BSP Realty Trust, effective immediately.
- Brian Buffone has been promoted to President of Franklin BSP Realty Trust, effective immediately.
- Richard Byrne will continue in his role as Chairman of the Board of Directors.
Feb 10, 2026, 9:30 PM
Franklin BSP Realty Trust Discusses Portfolio, NewPoint Acquisition, and Path to Dividend Coverage
FBRT
M&A
Dividends
New Projects/Investments
- Franklin BSP Realty Trust (FBRT), a commercial mortgage REIT, manages a $4.4 billion core portfolio, with 75% concentrated in multifamily assets, primarily in Sunbelt regions.
- FBRT completed the acquisition of NewPoint on July 1, a company with agency licenses that recorded $2.1 billion in agency originations for the quarter. This acquisition is expected to provide a natural exit path for bridge loans, expand borrower access, and contribute to book value growth through a mortgage servicing rights (MSR) portfolio.
- The company's 14% dividend yield is currently not covered, but FBRT anticipates achieving dividend coverage in the back half of 2026.
- Key initiatives to achieve dividend coverage include the recent $1.1 billion CLO issuance (expected to add $0.05-$0.07 per quarter in earnings power) , the monetization of Real Estate Owned (REO) assets (expected to add $0.08-$0.12 to EPS) , and the integration of NewPoint (expected to add $0.04-$0.08 cents to EPS initially).
Nov 20, 2025, 3:55 PM
Franklin BSP Realty Trust Updates on Portfolio, Acquisition, and Dividend Strategy
FBRT
M&A
Dividends
New Projects/Investments
- Franklin BSP Realty Trust (FBRT), a commercial mortgage REIT, reported a core portfolio of $4.4 billion as of September 30th, with 75% concentrated in multifamily assets, and aims to reach a $5 billion portfolio size.
- The company is currently trading at approximately 70% of its book value, resulting in a 14% dividend yield on its stock price.
- FBRT completed the acquisition of NewPoint on July 1st, gaining agency licenses and recording $2.1 billion in agency originations in the quarter, which also allows FBRT to retain Mortgage Servicing Rights (MSRs).
- A $1.1 billion CLO was issued on October 15th to free up capital for reinvestment, a key step in the company's strategy to achieve dividend coverage, which is anticipated by the back half of 2026. This strategy also includes monetizing REO assets and fully integrating NewPoint, with these initiatives expected to add $0.05-$0.07 per quarter from CLO reinvestment, $0.08-$0.12 to EPS from REO, and $0.04-$0.08 from NewPoint integration in the near term.
Nov 20, 2025, 3:55 PM
Franklin BSP Realty Trust (FBRT) Updates on Portfolio, NewPoint Acquisition, and Dividend Strategy
FBRT
Dividends
M&A
New Projects/Investments
- Franklin BSP Realty Trust (FBRT) is a commercial mortgage REIT with a $4.4 billion core portfolio as of September 30, primarily focused on multifamily assets (approximately 75% of the portfolio) in the Southwest, Southeast, and Sunbelt regions, with a net leverage of approximately 2.5 times.
- The company currently offers a 14% dividend yield on its stock price, though the dividend is not fully covered. Management expects to achieve dividend coverage in the back half of 2026 through strategic initiatives.
- Key initiatives for dividend coverage include a $1.1 billion CLO issuance (closed October 15th) projected to add $0.05-$0.07 per quarter in earnings power once reinvested , and the acquisition of NewPoint (closed July 1st), which recorded $2.1 billion in agency originations in its first quarter and is anticipated to contribute $0.04-$0.08 to EPS in the near term.
- FBRT maintains minimal exposure to office assets, which constitute only about 2% of its total portfolio as of quarter end, and has not originated new office loans since 2020.
Nov 20, 2025, 3:55 PM
Quarterly earnings call transcripts for Franklin BSP Realty Trust.
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