Earnings ·
Reports Q3 GAAP net loss of $27.0M, declares $0.20 quarterly dividend
FBRTFranklin BSP Realty Trust, Inc.
Franklin BSP Realty Trust reported a third-quarter GAAP net loss of $27.0 million, or $0.41 per diluted share, driven by a $43.1 million provision for credit losses and realized losses on real estate owned. Distributable earnings were $3.3 million, while distributable earnings before realized losses reached $25.8 million. The company repurchased 7.4 million shares for $60.5 million at an average price of $8.14, accreting book value by $0.55 per share to $14.26. It also declared a third-quarter common stock cash dividend of $0.20 per share. Franklin BSP Realty Trust is a real estate investment trust that originates, acquires and manages commercial real estate debt.