B. Riley lowered the firm’s price target on Franklin BSP Realty Trust (FBRT) to $13 from $15 and keeps a Buy rating on the shares. The firm updated its model following the Q4 results. While Franklin BSP cut its quarterly dividend from 35.5c to 20c per share, the firm sees the move more as an initiative to preserve book value than due to portfolio deterioration or heightened credit worries, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FBRT:
- Franklin BSP Realty Trust Details Earnings Reset
- Franklin BSP Realty Trust reports Q4 distributable EPS 12c vs 30c last year
- Franklin BSP Realty Trust Announces CEO and Leadership Changes
- Franklin BSP Realty Trust names Michael Comparato CEO
- FBRT Earnings Report this Week: Is It a Buy, Ahead of Earnings?