The earnings call highlighted the successful acquisition of NewPoint, strong loan repayments, and positive economic returns, indicating strategic positioning and resilience in the market. However, concerns over dividend coverage, tightening loan spreads, and increased watch list loans suggest challenges ahead. Although the highlights are significant, the lowlights present notable concerns, leading to a balanced overall sentiment.

Company Guidance -

Q3 2025

During the Franklin BSP Realty Trust's second-quarter 2025 earnings call, key financial metrics and strategic updates were discussed. The company reported GAAP earnings of $24.4 million, or $0.21 per fully converted common share, and distributable earnings totaling $29 million, or $0.27 per share. Loan originations for the quarter were deliberately lower at $61 million, primarily in multifamily assets, while the company received $317 million in loan repayments. The average risk rating at quarter end was 2.3, with only 5% of the portfolio on the watch list. The successful closing of the NewPoint acquisition on July 1 was highlighted as a major milestone, enhancing FBRT's multifamily lending platform and expected to contribute an 8% return on equity (ROE) initially, with potential to reach low teens ROE over time. FBRT's liquidity, excluding NewPoint acquisition cash, stood at $501 million, with $77 million in unrestricted cash. The company plans to call several CLOs to optimize leverage, potentially generating $0.04 to $0.06 per share quarterly, and aims to reinvest proceeds from real estate owned (REO) sales, contributing an additional $0.08 to $0.12 per share per quarter. The strategic repositioning is anticipated to collectively add $0.16 to $0.26 per share each quarter in incremental distributable earnings. Despite trading at a discount to book value, the company remains optimistic about its undervalued stock and strong portfolio, emphasizing disciplined credit decisions and effective capital management.

Successful NewPoint Acquisition

FBRT completed the acquisition of NewPoint on July 1, expanding its platform within multifamily lending. The acquisition is expected to bring significant synergies, including scaled origination and servicing capabilities, which will increase the addressable market and enhance income stability. The transaction is projected to be accretive to both GAAP and distributable earnings by 2026.

Strong Loan Repayments

FBRT received $317 million in loan repayments in the second quarter across four different property types, continuing an encouraging trend and positioning the company well for future opportunities.

High Proportion of Post-Rate Hike Loan Originations

56% of FBRT's portfolio at quarter-end consisted of post-interest rate hike loan originations, significantly ahead of peers, reflecting the company's active market participation.

Positive Economic Returns

FBRT delivered economic returns, defined as change in book value plus dividends paid, of 6.6% and 11.9% over the past 12 and 24 months, respectively, placing the company at the top of its peer group.

Reduced Office Exposure

FBRT's total office exposure is only $105 million, which is 2.2% of total assets, spread across four loans with low average loan sizes and two REO assets.

Franklin BSP Realty Trust (FBRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FBRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	0.28 / -	-0.1	―	―	―
Jul 30, 2025	2025 (Q2)	0.29 / 0.27	0.31	-12.90% (-0.04)
Apr 28, 2025	2025 (Q1)	0.28 / -0.12	0.438	-127.40% (-0.56)
Feb 13, 2025	2024 (Q4)	0.28 / 0.30	0.39	-23.08% (-0.09)
Nov 04, 2024	2024 (Q3)	0.34 / -0.10	0.43	-123.26% (-0.53)
Jul 31, 2024	2024 (Q2)	0.40 / 0.31	0.66	-53.03% (-0.35)
Apr 29, 2024	2024 (Q1)	0.39 / 0.44	0.42	4.29% (+0.02)
Feb 14, 2024	2023 (Q4)	0.40 / 0.39	0.37	5.41% (+0.02)
Oct 30, 2023	2023 (Q3)	0.40 / 0.43	0.33	30.30% (+0.10)
Jul 31, 2023	2023 (Q2)	0.51 / 0.66	0.29	127.59% (+0.37)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FBRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$10.08	$10.10	+0.20%
Apr 28, 2025	$11.26	$11.22	-0.36%
Feb 13, 2025	$12.24	$12.44	+1.63%
Nov 04, 2024	$11.84	$11.86	+0.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Franklin Bsp Realty Trust, Inc. (FBRT) report earnings?

Franklin Bsp Realty Trust, Inc. (FBRT) is schdueled to report earning on Nov 05, 2025, After Close (Confirmed).

What is Franklin Bsp Realty Trust, Inc. (FBRT) earnings time?

Franklin Bsp Realty Trust, Inc. (FBRT) earnings time is at Nov 05, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is FBRT EPS forecast?

FBRT EPS forecast for the fiscal quarter 2025 (Q3) is 0.28.

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