NYSE$FBRT

Franklin BSP Realty Trust Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

FBRT's financial results for the quarter ended December 31, 2021, were announced, reflecting the combination of FBRT and Capstead Mortgage Corporation after their merger.

Franklin BSP Realty Trust (FBRT) announced its Q4 2021 results, which include the merged operations with Capstead Mortgage Corporation. The company closed $1.6 billion of loan commitments and funded $1.5 billion in principal balance, resulting in net core portfolio growth of $970 million. Book value was reported at $17.25 per fully converted common share.

  • FBRT's merger with Capstead Mortgage Corporation closed on October 19, 2021, and the results reflect the combined entity.
  • The ARM portfolio has been reduced to $2.4 billion as of February 18, 2022, a 66% reduction from $7.1 billion at September 30, 2021.
  • Commercial real estate platform had a record quarter.
  • The core portfolio at the end of the quarter had 165 loans with an aggregate principal balance of approximately $4.2 billion.

Headline financials

Total Revenue

$55.4M

Previous: $33.4M+66.0%
EPS (adj)

$0.36

Previous: $6.60-94.5%
New Loan Commitments

$1.6B

No prior period
Principal Funded

$1.5B

No prior period
Loan Repayments

$532M

No prior period
Net Income

-$72.9M

Previous: $29.4M-348.5%
Gross Profit

$55.4M

Previous: $33M+68.0%
Cash & Equivalents

$155M

Previous: $82.1M+88.8%
Total Assets

$9B

Previous: $3.19B+182.2%
Stock-Based Comp

$51K

Previous: $57K-10.5%

Revenue & EPS history

FBRT · Revenue · Quarterly

$55.4M

Q4 2021+66%vs Q4 2020
Beat estimate in 0 of 3 quarters(0%)
ActualEstimate

Forward guidance

Looking into 2022, our pipeline remains robust with strong deal flow.

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 Q4 2021

Historical avgQ4 2021

-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

Earnings price reactions
QuarterReport dateReaction (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%
Q2 2021
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Q4 2020
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Q4 2018
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Q4 2016
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Q4 2015
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Q4 2013
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