Franklin BSP Realty Trust, Inc. FBRT
Franklin BSP Realty Trust, Inc. functions as a real estate finance firm, primarily engaged in the creation, acquisition, and management of a varied portfolio of commercial real estate debt, secured by properties located across the United States. Its operations also include originating conduit loans and investing in commercial real estate securities. Additionally, the company owns real estate assets obtained via foreclosure, deed-in-lieu transactions, or direct purchase for investment. Its investment scope within commercial real estate debt encompasses first mortgage loans, mezzanine loans, bridge loans, and other related credit instruments. The company holds the qualification of a Real Estate Investment Trust (REIT) for federal tax purposes, which typically allows it to avoid federal corporate income taxes, provided it distributes at least 90% of its taxable income to its stockholders. Incorporated in 2012 and headquartered in New York, New York, the company was previously known as Benefit Street Partners Realty Trust, Inc.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-25 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Distributable Earnings / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model FBRT yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $555.97M | $82.27M | $9.59M | $385.89M | $291.94M |
| 2024 | $548.92M | $68.89M | $5.63M | $437.62M | $57.23M |
| 2023 | $569.53M | $145.22M | $8.41M | $163.18M | $197.39M |
| 2022 | $367.36M | $14.43M | $129.98M | $106.55M | $152.51M |
| 2021 | $221.65M | $25.70M | $41.61M | $167.07M | $146.50M |
| 2020 | $184.17M | $54.75M | $2.23M | $61.40M | $115.33M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-10 | 2026-06-15 | $0.20 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-10 | 2026-02-11 | $0.20 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-12 | 2025-12-16 | $0.35 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-10 | 2025-09-15 | $0.35 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-10 | 2025-06-11 | $0.35 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-10 | 2025-03-17 | $0.35 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-10 | 2024-12-16 | $0.35 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-10 | 2024-09-16 | $0.35 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-10 | 2024-06-17 | $0.35 | Quarterly |
| 2024-03-27 | 2024-03-29 | 2024-04-10 | 2024-03-18 | $0.35 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-10 | 2023-12-18 | $0.35 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-10 | 2023-09-18 | $0.35 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-10 | 2023-06-20 | $0.35 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-10 | 2023-03-20 | $0.35 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-11 | 2022-12-19 | $0.35 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-11 | 2022-09-19 | $0.35 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-11 | 2022-06-16 | $0.35 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-11 | 2022-02-23 | $0.35 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-10 | 2021-12-20 | $0.28 | Quarterly |
Coverage (payout of operating cash flow): 23.62%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — FBRT
Franklin BSP Realty Trust, Inc. Schedules Second Quarter 2026 Earnings Release and Conference Call
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm
Franklin BSP Realty Trust, Inc. Announces Second Quarter 2026 Common Stock Dividend of $0.20 Per Share and Series E Cumulative Redeemable Preferred Stock Dividend of $0.46875 Per Share
Kuehn Law Encourages Investors of Franklin BSP Realty Trust, Inc. to Contact Law Firm
Franklin BSP Realty Trust: Attractive Valuation After Recent Dividend Cut
Readers Nab 10 Ideal 'Safer' Dividend Dogs In April
Earnings High Fliers And Busts
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Mortgage REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.