Franklin BSP Realty Trust, Inc. (FBRT)

Real Estate Investment Trusts

Latest Price

$7.81

TTM P/E

17.75

Normalized P/E

26.75

Div Yield

14.21%

Book Value

17.97

P/B Ratio

0.43

Valuation metrics

EPS: $0.64

Book value / share: $17.68

Formula: √(22.5 × EPS × BVPS)

Graham Number

$15.95

+104% upside

Norm. op. income: $72M (median of 3yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$8.91

+14% upside

EPS: $0.64

Target P/E: 27×

Formula: EPS × P/E

P/E Fair Value

$17.28

+121% upside

64.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.00M	$105.0M	17.24%	-119.0K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	3.43M	$27.0M	4.55%	-131.4K	2026-06-30
STATE STREET CORP	3.24M	$27.0M	4.30%	+31.5K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	2.07M	$16.0M	2.74%	+28.5K	2026-06-30
Invesco Ltd.	1.85M	$15.0M	2.45%	+110.9K	2026-06-30
GRATIA CAPITAL, LLC	1.77M	$14.0M	2.35%	-509.3K	2026-06-30
FRANKLIN RESOURCES INC	1.50M	$12.0M	1.99%	-290	2026-06-30
UBS Group AG	1.35M	$10.0M	1.79%	-356.8K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	1.28M	$10.0M	1.70%	-1.50M	2026-06-30
Sixth Street Partners Management Company, L.P.	1.11M	$9.0M	1.47%	--	2026-06-30