NYSE$FBRT
Franklin BSP Realty Trust Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced financial results for the quarter ended September 30, 2024.
Franklin BSP Realty Trust reported a GAAP net income of $30.2 million and EPS of $0.30 for the third quarter of 2024. The company closed $380 million of new loan commitments and funded $325 million of principal balance. Total liquidity reached $1.1 billion, including $346 million in cash and cash equivalents.
- Core portfolio principal balance of $5.2 billion as of September 30, 2024, comprising 157 loans with an average size of $33 million.
- Closed $380 million in new loan commitments with a weighted average spread of 421 basis points.
- Funded $325 million of principal balance and received loan repayments of $510 million.
- Total liquidity of $1.1 billion, including $346 million in cash and cash equivalents.
Headline financials
Revenue & EPS history
FBRT · Revenue · Quarterly
$49.7M
Forward guidance
FBRT has originated over $1.6 billion in total commitments year-to-date in 2024 and continues to make rapid progress turning over the book into loans underwritten at current cap rates.
Tailwinds
- Originated over $1.6 billion in total commitments year-to-date in 2024.
- New loans are some of the most attractive in the portfolio.
- Making rapid progress turning over the book into loans underwritten at current cap rates.
- 40% of the book has been underwritten since January 2023.
- Pleased to see the liquidity of our portfolio.
Headwinds
- We continue to positively resolve positions, modify loans, sell REO and clean up what we believe is overall a very healthy, multifamily-heavy loan portfolio.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2024
-0.3%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-0.5%
Avg return
30 days after
50%
9 / 18 earnings
Positive
+7.9%
Q4 2023
Best reaction
-14.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | +1.7% | -3.3% | |
| Q4 2025 | -14.2% | -12.5% | -12.3% | |
| Q3 2025 | -4.3% | -4.8% | -2.3% | |
| Q1 2025 | -0.4% | -1.6% | -4.8% | |
| Q4 2024 | +1.7% | +1.6% | +2.2% | |
| Q3 2024 | -0.1% | +2.1% | -0.7% | |
| Q2 2024 | -9.7% | -11.3% | -2.8% | |
| Q1 2024 | -2.0% | +0.2% | -3.4% | |
| Q4 2023 | +7.9% | +6.5% | +9.0% | |
| Q3 2023 | +3.4% | +10.9% | +6.5% | |
| Q2 2023 | -4.9% | -3.8% | -0.3% | |
| Q1 2023 | +2.3% | +6.0% | +15.3% | |
| Q4 2022 | +3.9% | +3.0% | -18.0% | |
| Q3 2022 | +7.5% | +6.1% | +3.9% | |
| Q2 2022 | -0.8% | -4.5% | -11.3% | |
| Q1 2022 | +2.6% | -0.8% | +12.3% | |
| Q4 2021 | +0.9% | +2.5% | +6.9% | |
| Q3 2021 | -0.1% | -2.0% | -5.9% | |
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