NYSE$FBRT
Franklin BSP Realty Trust Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2022 results.
Franklin BSP Realty Trust reported GAAP net income of $27.2 million and distributable earnings of $38.8 million for the fourth quarter of 2022. The company closed $209 million of new loan commitments and repurchased 485,316 shares of common stock.
- Produced a fourth quarter GAAP and Distributable Earnings ROE of 6.4% and 9.2%, respectively
- Book value of $15.78 per diluted common share on a fully converted basis
- Declared fourth quarter common stock cash dividend of $0.355, representing a 9.0% yield on book value
- GAAP and Distributable Earnings dividend coverage of 72% and 104%, respectively
Headline financials
Revenue & EPS history
FBRT · Revenue · Quarterly
$56.6M
Forward guidance
FBRT expects earnings to continue to perform well due to attractive spreads and the continued benefit from higher SOFR rates.
Tailwinds
- Loan spreads continue to be meaningfully higher than prior quarters.
- Originating at the most attractive spreads seen in recent years.
- Credit quality on new originations is improving simultaneously.
- Continued benefit from higher SOFR rates.
- Liquidity position of approximately $1.0 billion.
Headwinds
- Lower origination volume
- Relatively flat portfolio
- Two loans were added to the Company's watch list
- Three positions were added to foreclosure REO, two of which were previously on watch list.
- Two non-performing loans.
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 2022
-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 |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| 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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