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Sep 30, 2023
FBRT Q3 2023 Earnings Report
Announced financial results for the quarter ended September 30, 2023.
Key Takeaways
Franklin BSP Realty Trust reported a GAAP net income of $31.0 million, or $0.30 per diluted common share, and Distributable Earnings of $42.0 million, or $0.43 per diluted common share for the third quarter of 2023. The company closed $153 million of new loan commitments and $897 million managed Commercial Real Estate Collateralized Loan Obligation.
Produced a third quarter GAAP and Distributable Earnings ROE of 7.7% and 10.7%, respectively.
Book value of $15.82 per diluted common share on a fully converted basis, a decrease of $0.03 from the prior quarter.
Closed $153 million of new loan commitments at a weighted average spread of 398 basis points.
Total liquidity of $1.8 billion, which includes $411 million in cash and cash equivalents and $25 million in CLO reinvest available.
Forward Guidance
FBRT is generating a double-digit Distributable Earnings ROE while maintaining a substantial liquidity position.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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