Loading...
•
Jun 30, 2022
FBRT Q2 2022 Earnings Report
Franklin BSP Realty Trust, Inc. announced financial results for the second quarter of 2022.
Key Takeaways
Franklin BSP Realty Trust reported a GAAP net loss of $(25.7) million and Distributable Earnings of $30.7 million for the quarter ended June 30, 2022. The core portfolio ended the quarter at $5.3 billion, and the company closed an $803 million managed CRE CLO.
Produced a second quarter GAAP ROE of (8.3)% and a Distributable Earnings ROE of 7.0%.
Book value of $15.81 per fully converted share.
Declared second quarter common stock cash dividend of $0.355 representing an 9.0% yield on book value.
Core portfolio ended the quarter at $5.3 billion of principal balance.
Forward Guidance
FBRT expects to have a fully-optimized portfolio in the fourth quarter and anticipates returns to be more in-line with historical performance.
Positive Outlook
- Expect to have a fully-optimized portfolio in the fourth quarter.
- Anticipate returns to be more in-line with historical performance.
- Strong balance sheet.
- Ample liquidity.
- Complete focus is on our core commercial real estate strategy.
Challenges Ahead
- Continued challenging market conditions.
- Decline in transactional volume across the commercial lending market.
- Witness the repricing of assets, most notably in multifamily and industrial sectors.
- Economics were not as accretive as our last several CLO's.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...