Credit and interest ratesmixed · 4 filings
“Outflows were partially offset by (i) net borrowings on repurchase agreements and revolving credit facilities for commercial mortgage loans of $99.5 million.”10-Q · Apr 29, 2026 ↗
Franklin BSP Realty Trust, Inc.
FBRT
Market read
Franklin BSP Realty Trust, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 7 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Company-3.9% todayVolume comparison unavailable
Market group0 of 7 activeREITs and Medical Devices · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- FBRT's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if FBRT's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 7 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- FBRT's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements129
Verified relationships0
Evidence supporting the case
- Latest annual revenue changed +29.7% year over year.
- Operating cash flow covered net income at 3.55x in the latest annual period.
Evidence challenging the case
- Net margin changed -142.0 percentage points in the latest annual period.
- Diluted shares increased 5.3% in the latest annual period.
Questions before a position
- P/E is 22% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 474% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
7.686m-15.9%12m-32.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$4.8M+10.7%$-0.18-2.2%
2022-12-31$9.7M+102.9%$-0.38—
2023-12-31$17.0M+76.3%$1.42+14.9%
2024-12-31$22.8M+34.2%$0.82-0.6%
2025-12-31$29.6M+29.7%$0.64+5.3%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposurenegative · 3 filings
“Gain/(Loss) on Other Real Estate Investments Loss on other real estate investments for the year ended December 31, 2025 was $3.4 million primarily due to sales of our multifamily and retail properties and fair value write downs of our multifamily properties,…”10-K · Feb 25, 2026 ↗
Macroeconomic conditionsmixed · 2 filings
“General provision for the nine months ended September 30, 2024 was attributable to a more pessimistic view of the macroeconomic scenario utilized for the CECL model compared to preceding periods.”10-Q · Nov 5, 2025 ↗
Restructuring and cost reductionsmixed · 2 filings
“The increase was primarily due to MSR impairment recoveries recognized during the three months ended March 31, 2026 due to potential market interest rate increase, which resulted in lower prepayment rates and higher portfolio valuation.”10-Q · Apr 29, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 22.3× · EV/sales 16.7×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
7.68-3.9% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FBRT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FBRT. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FBRT
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FBRT is currently a Follower in the organic co-movement group REITs and Medical Devices. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
This group is retained as the last observed read for FBRT; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.