Franklin BSP Realty Trust (FBRT)
NYSE:FBRT
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.26Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The quarter demonstrated clear operational progress: portfolio growth, successful integration of the BSP servicing book into NewPoint, issuance of an $880.4 million CRE CLO, meaningful share buybacks and book value appreciation, and reductions in REO. However, the quarter also included notable credit-related charges — $12.3 million of realized REO losses and a $13.5 million CECL provision driven by a single watch-list loan — along with seasonally weak agency originations (down ~41% q/q) and ongoing legacy asset work. On balance, the company showed momentum in redeploying capital, strengthening liquidity, and integrating businesses, while actively addressing remaining legacy credit issues.Company Guidance
Portfolio Growth and Originations
Core portfolio grew by $173 million during Q1 to ~$4.6 billion (net growth ≈ 3.8% q/q). New loan commitments totaled $468 million versus $323 million of repayments. The quarter produced 26 originations at a weighted average spread of 278 bps, with multifamily representing 92% of production.
Improved Earnings Coverage and GAAP Results
GAAP net income was $12.3 million ( $0.08 per fully converted common share). Distributable earnings were $13.5 million ($0.09 per fully converted share); excluding $12.3 million of realized losses tied to foreclosure real estate, distributable earnings were $0.22 per share, and adjusted distributable earnings covered the dividend.
Share Repurchases and Book Value Improvement
Repurchased nearly $40 million of common stock in Q1; subsequent Board authorization added $50 million available through Dec 31, 2026. Book value per share increased to $14.18, driven by repurchase activity.
Liquidity & Liability Management — CLO Issuance
Issued an $880.4 million managed CRE CLO subsequent to quarter end, called a 2022 vintage CLO that had exited reinvestment, and now have reinvestment capacity available across three CLOs, improving financing flexibility.
NewPoint Integration and Servicing Scale
Successfully integrated the BSP servicing book into NewPoint during Q1. NewPoint servicing portfolio totaled $58.1 billion at quarter end. MSR portfolio valued at ~$217 million generated $6.7 million of income in Q1 (implying an average MSR rate of roughly 100 bps). NewPoint contributed $5.6 million of distributable earnings in Q1 — described as a more normalized, steady-state level.
Reduction and Resolution of Legacy REO Positions
Foreclosure REO count reduced from 7 to 6 during Q1 (a ~14% reduction), and the company sold its largest REO (Raleigh multifamily) early in Q2; management expects the sale financing will return that investment from a negative to a positive equity contribution next quarter.
Conservative Capital Allocation & Strategic Equity Deployment
Management selectively deployed capital into equity investments in 2025 and has seen meaningful appreciation; estimated fair value of these equity investments has increased significantly since initial investment. Management expects equity allocation to increase through 2026 while remaining willing to exit if pricing is compelling.
Low Office Exposure and Portfolio Quality
Office exposure is extremely limited at ~1% of the core portfolio (~$55 million across three loans, two performing, one nonperforming). The portfolio is ~79% backed by multifamily and average risk rating stands at 2.5 with 11 loans on the watch list.
FBRT Earnings History
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 |
|---|---|---|---|
Apr 29, 2026 | $8.97 | $9.10 | +1.45% |
Feb 11, 2026 | $9.91 | $8.51 | -14.19% |
Oct 29, 2025 | $10.06 | $9.66 | -3.95% |
Jul 30, 2025 | $9.21 | $9.23 | +0.20% |
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 (FBRT) report earnings?
Franklin BSP Realty Trust (FBRT) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is Franklin BSP Realty Trust (FBRT) earnings time?
Franklin BSP Realty Trust (FBRT) earnings time is at Aug 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is FBRT EPS forecast?
FBRT EPS forecast for the fiscal quarter 2026 (Q2) is 0.26.