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FBRT News
FBRT Events
Book Value Per Share Rises to $14.24 from $14.18
Book value per share was $14.24 from $14.18 last quarter end.
FBRT Resets Quarterly Dividend to $0.20
Michael Comparato, Chief Executive Officer of FBRT, said, "2025 was a year of transition for FBRT. We have diversified our business lines with the NewPoint acquisition and we have been sorting through the remaining legacy 2021 and 2022 assets. While we have managed through the credit cycle with minimal losses, it has taken longer to resolve and sell the real estate than we originally planned. This has led to over-distributing capital to investors. In order to stabilize our book value and match the earnings power of our company to distributions, our Board reset the quarterly dividend to $0.20. Our earnings power to support a meaningfully higher dividend remains unchanged, and the team is working tirelessly to position us for higher earnings. In the near term, our priority is delivering durable book value growth and matching our yields to our distributions."
Franklin BSP Realty Trust Appoints New CEO and President
Franklin BSP Realty Trust announced that the Board of Directors of the Company has appointed Michael Comparato, currently the company's President, as Chief Executive Officer and Brian Buffone as President, effective immediately. Richard Byrne will continue as Chairman of the Board of Directors. Byrne commented: "I am excited to welcome Mike Comparato in his new role. Mike is a highly respected industry leader who has been instrumental in building and scaling Benefit Street Partners' real estate platform. I am also proud to welcome Brian Buffone as President. Brian is a seasoned real estate veteran and long-time member of our investment team. Together, these appointments represent a natural evolution of FBRT's leadership and leave us well positioned to execute our strategy in a dynamic market environment."
Franklin BSP Realty Trust announces issuance of unsecured senior notes
Franklin BSP Realty Trust announced that through its operating partnership, FBRT OP, it has issued, in a private offering, $107M aggregate principal amount of unsecured senior notes, consisting of $82M of 8.25% unsecured senior notes due 2030 and $25M of floating rate unsecured senior notes due 2028, with an initial coupon of approximately 8.33%. The Fixed Rate Notes will mature on April 25, 2030 and the Floating Rate Notes will mature on April 25, 2028. The Company expects to use the net proceeds from the issuance of the Notes for general corporate purposes, which may include funding a portion of the purchase price for the recently announced acquisition of NewPoint Holdings JV. There is no guarantee such acquisition will close, and the issuance of the Notes was not contingent on the closing of such acquisition.
Franklin BSP Realty Trust reports Q4 distributable EPS (12c) vs 30c last year
Michael Comparato, President of FBRT, said, "Periods of enhanced market volatility often present unique opportunities. We have consistently been open for business and continue to make steady progress on recycling our legacy portfolio."
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