Overview
Franklin BSP Realty Trust Q2 adjusted EPS missed analyst expectations, per LSEG data
Distributable earnings rose to $29 mln from a loss in prior qtr
Co completed acquisition of NewPoint Holdings
Result Drivers
CORE PORTFOLIO - Principal balance of $4.5 bln with focus on senior mortgage loans and multifamily properties
LOAN ACTIVITY - Closed $60.8 mln of new loan commitments and funded $90.6 mln in principal balance, with $316.8 mln in loan repayments
NEWPOINT ACQUISITION - Completed acquisition of NewPoint Holdings for $428.2 mln, expected to contribute to future growth
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$8.34 mln
Q2 Adjusted EPS
Miss
$0.27
$0.29 (5 Analysts)
Q2 EPS
$0.19
Q2 Net Income
$24.38 mln
Q2 Net Interest Income
$40.96 mln
Q2 Loan Loss Provision
$1.49 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Franklin BSP Realty Trust Inc is $15.00, about 31.9% above its July 29 closing price of $10.22
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nBw7LFQ27a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)