Franklin BSP Realty Trust, Inc. (FBRT) Form 8-K — Oct 28, 2026
Franklin BSP Realty Trust (NYSE: FBRT) reported a Q3 2026 GAAP net loss of $27.0 million, or $(0.41) per diluted share, driven by a $43.1 million provision for credit losses and $24.2 million of realized losses on loans and REO. Distributable Earnings before realized losses was $25.8 million ($0.24 per fully converted share), but Distributable Earnings fell to just $3.3 million and Distributable Earnings to Common was negative at $(1.7) million. Despite the loss, fully converted book value per share rose $0.02 to $14.26 (adjusted: $15.13, up $0.39), aided by the repurchase of 7.4 million shares at an average $8.14 for $60.5 million, which added $0.55 per share of book value accretion.
Key figures
- Revenue
- 74937000
- Dividend
- 0.20 per share quarterly
- Total Assets
- 6025138000
- Cash Position
- 100821000
- Shares Outstanding
- 75881209
- Total liquidity
- $407.2 million
- Shares repurchased
- 7433748
- Watch list balance
- $333.6 million (13 loans)
- Agency originations
- $670.4 million
- Repurchase aggregate
- $60.5 million
- Repurchase avg price
- 8.14
- Credit loss provision
- $43.1 million
- Total economic return
- 6.2% annualized
- Core portfolio balance
- $4.1 billion across 175 loans
- Distributable earnings
- $3.3 million ($(0.02)/fully converted share)
- Dividend yield on price
- 12.8%
- Bv accretion from buyback
- 0.55
- Reo foreclosure positions
- $339.5 million (10 assets)
- Agency servicing portfolio
- $61.3 billion
- Adjusted book value per share
- 15.13
- Book value per share fully converted
- 14.26
- Distributable earnings before realized losses
- $25.8 million ($0.24/share)
AI analysis
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