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Franklin Bsp Realty Trust, Inc. (FBRT)
NYSE:FBRT
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.24Last Year’s EPS
-0.12Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced strategic, longer-term positives — leadership continuity, NewPoint integration, MSR and servicing scale, expanded CLO capacity, continued buybacks and a targeted origination pipeline — against near-term headwinds including a dividend reset to $0.20, $9.8M of realized losses (including debt extinguishments), slower-than-expected REO liquidations, and compressed market spreads that pressure short-term returns. Management emphasized that the company is intentionally repositioning from a pure-play mortgage REIT to a diversified commercial real estate investment platform focused on sustainable dividend coverage, book value growth and recurring fee income. Execution on REO resolutions, NewPoint integration (including the $10B BSP migration) and redeployment of capital will be key to restoring prior earnings power.Company Guidance
Leadership Transition and Strategic Positioning
Appointed Michael Comparato as CEO and Brian Buffone as President, signaling continuity and experienced leadership to execute the enlarged commercial real estate investment platform following the NewPoint acquisition.
NewPoint Acquisition and Recurring Revenue
NewPoint integration progressing; NewPoint expected to contribute approximately $25 million to $33 million of distributable earnings annually. Servicing book was $47.8 billion at quarter end and is expected to increase by ~ $10 billion after BSP migrations, supporting more stable, fee-based revenue.
Mortgage Servicing Rights (MSR) Contribution
MSR portfolio valued at ~ $220 million generated $8.8 million of income in Q4 (implied average MSR rate ~82 bps; implied life ~6.4 years), adding recurring income to the business mix.
Core Portfolio Growth and Originations
Core portfolio finished Q4 at roughly $4.4 billion. Originations totaled ~$528 million of new commitments in Q4 versus ~$510 million of loan repayments, a modest net increase in principal balance as originations outpaced payoffs.
Financing and Capital Capacity Expansion
Completed a $1.0 billion CLO (FL12) in Q4 that increased non-recourse financing capacity, will lower financing costs in 2026 and add meaningful origination capacity; net leverage ended the quarter at 2.5x (recourse 0.81x).
Share Repurchases and Board Support for Equity
Repurchased $14.4 million of common stock in Q4 (contributed ~$0.05 to book value). Board reauthorized $50 million available for future repurchases through December 31, 2026.
Reported Earnings and CECL Movement
GAAP net income of $18.4 million ($0.13 per fully converted common share). Distributable earnings were $17.9 million ($0.12 per share); recorded a net CECL benefit of $4.8 million in the quarter.
Selective Origination Strategy and Robust Pipeline
Maintaining origination activity but avoiding the lowest-spread 'commodity' multifamily loans; weighted-average spread on new originations in Q4 was 284 bps and the company has a $1.7 billion under-application pipeline while pursuing higher-quality, diversified deal flow.
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 |
|---|---|---|---|
Feb 11, 2026 | $10.15 | $8.71 | -14.19% |
Oct 29, 2025 | $10.66 | $10.24 | -3.94% |
Jul 30, 2025 | $9.76 | $9.78 | +0.19% |
Apr 28, 2025 | $10.91 | $10.86 | -0.42% |
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 May 06, 2026, After Close (Confirmed).
What is Franklin Bsp Realty Trust, Inc. (FBRT) earnings time?
Franklin Bsp Realty Trust, Inc. (FBRT) earnings time is at May 06, 2026, 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 2026 (Q1) is 0.24.