Franklin BSP Realty Trust price target lowered to $14 from $15 at JonesResearch

JonesResearch lowered the firm’s price target on Franklin BSP Realty Trust (FBRT) to $14 from $15 and keeps a Buy rating on the shares following the Q1 report. In an active lending environment and with one of the best positioned portfolio’s, Franklin “temporarily faces a difficult position” by taking back $166M through foreclosures and real estate owned, the analyst tells investors in a research note. The firm sees near-term pressure on the quarterly dividend as real estate owned provides headwinds.