Franklin Bsp Realty Trust, Inc. ( (FBRT) ) has released its Q4 earnings. Here is a breakdown of the information Franklin Bsp Realty Trust, Inc. presented to its investors.
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Franklin BSP Realty Trust, Inc. is a real estate investment trust focused on originating, acquiring, and managing a diverse portfolio of commercial real estate debt secured by U.S. properties.
The company recently announced its financial results for the fourth quarter and full year 2024, reporting a GAAP net income of $30.2 million for the quarter and $92.4 million for the year, amidst a challenging economic environment.
Key financial metrics revealed a decrease in both GAAP net income and Distributable Earnings compared to the previous year, with full-year diluted EPS dropping from $1.42 in 2023 to $0.82 in 2024. Despite this, the company closed $2.0 billion in new loan commitments and maintained a robust portfolio, with 99% in senior mortgage loans and 71% collateralized by multifamily properties.
FBRT’s strategic activities included closing a $1.024 billion managed Commercial Real Estate Collateralized Loan Obligation and repurchasing $4.9 million worth of common stock, aiming to enhance shareholder value. The company also maintained a strong liquidity position with $535 million in total liquidity.
Looking ahead, Franklin BSP Realty Trust continues to actively manage its legacy loan portfolio, with management expressing confidence in their proactive approach to enhancing earnings potential. The company remains focused on navigating economic challenges while seeking opportunities for growth.
