Every material Form 8-K Franklin BSP Realty Trust has filed with the SEC since September 27, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Franklin BSP Realty Trust reported a third-quarter 2026 GAAP net loss of $27.0 million, compared with net income of $17.6 million a year earlier. Distributable Earnings fell to $3.3 million from $26.7 million, and total income declined to $74.9 million from $89.5 million. Book value rose $0.02 to $14.26 per share, and the company declared a $0.20 common dividend.
GAAP net loss of $27.0 million, or $(0.41) per diluted share, versus net income of $17.6 million, or $0.12 per diluted share, in Q3 2025
Distributable Earnings of $3.3 million, or $(0.02) per diluted share on a fully converted basis, versus $26.7 million a year earlier
Net provision for credit losses of $43.1 million; book value of $14.26 per diluted share, up $0.02 from the prior quarter
Repurchased 7,433,748 shares for $60.5 million at an average price of $8.14; board extended the program to December 31, 2027
Franklin BSP Realty Trust's board reappointed Richard Byrne as Chief Executive Officer effective September 16, 2026, succeeding Michael Comparato, who resigned on September 15, 2026. The company said Comparato is stepping back from day-to-day executive responsibilities, and Byrne will also remain Chairman of the Board. For shareholders, this is a change in the company's top executive role at an externally managed real estate investment trust.
Richard Byrne reappointed CEO effective September 16, 2026; he previously served as CEO from 2016 to February 2026 and continues as Chairman.
Michael Comparato resigned as CEO on September 15, 2026, and will serve as an advisor to Benefit Street Partners L.L.C.; the press release describes a Senior Advisor role at BSP through 2027.
Jerome S. Baglien, CFO and COO, was appointed Co-President alongside Brian Buffone and will lead BSP's Commercial Real Estate Debt platform.
Franklin BSP Realty Trust reported second quarter 2026 results for the period ended June 30, 2026. GAAP net income was $16.3 million, or $0.12 per diluted share, down from $24.4 million, or $0.19 per diluted share, a year earlier, while total income rose to $65.3 million from $49.3 million. Book value per fully converted share rose to $14.24, and the company repurchased $16.0 million of common stock.
GAAP net income of $16.3 million, or $0.12 per diluted share, versus $24.4 million, or $0.19, in Q2 2025
Distributable Earnings of $28.3 million, or $0.25 per fully converted share, versus $29.0 million, or $0.27, in Q2 2025
Book value of $14.24 per fully converted share, up $0.06 from the prior quarter; repurchased 1,838,855 shares for $16.0 million
Board reauthorized a $50.0 million share repurchase program through December 31, 2026, and declared a $0.20 quarterly common dividend
Franklin BSP Realty Trust reported first quarter 2026 results for the quarter ended March 31, 2026. GAAP net income fell from $23.7 million a year earlier to $12.3 million, while Distributable Earnings, a non-GAAP measure, moved from a $6.2 million loss to $13.5 million. The company declared a $0.20 dividend, reported book value of $14.18 per diluted share, and the board reauthorized a $50.0 million share repurchase program through December 31, 2026.
GAAP net income was $12.3 million, or $0.07 per diluted share, versus $23.7 million, or $0.20 per share, in Q1 2025.
Distributable Earnings were $13.5 million, or $0.09 per share fully converted, versus a loss of $6.2 million in Q1 2025.
Repurchased 4,361,596 shares for $39.8 million at an average price of $9.13; book value was $14.18 per diluted share, up $0.03 from the prior quarter.
After quarter-end, the board reauthorized $50.0 million for share repurchases through December 31, 2026; a $0.20 first quarter dividend was declared.
On April 15, 2026, a consolidated subsidiary closed an approximately $880.4 million commercial real estate mortgage securitization and sold approximately $778.1 million of the notes in a private placement. The company said it will hold the underlying portfolio until maturity and account for the notes as a financing on its balance sheet, with proceeds used primarily to repay borrowings under current credit facilities, fund future loans and investments, and for general corporate purposes.
Offered notes total about $778.1 million across Class A through Class E, with Class A notes of $510,658,000 priced at 1.5% plus 1 Month CME Term SOFR
Notes mature October 18, 2043, with monthly interest payable beginning May 18, 2026
Notes are limited recourse obligations, payable solely from cash flow generated by the portfolio and other company assets
NewPoint Real Estate Capital LLC will act as servicer under the servicing agreement
Franklin BSP Realty Trust reported fourth quarter and full year 2025 results with lower GAAP net income and Distributable Earnings than in 2024. The board reset the quarterly common dividend to $0.20 from the $0.355 declared for the fourth quarter, which CEO Michael Comparato said reflects over-distribution of capital tied to slow resolution of legacy 2021 and 2022 assets.
Q4 2025 GAAP net income was $18.4 million, or $0.13 diluted EPS, versus $30.2 million, or $0.29, in Q4 2024
Full year 2025 GAAP net income was $84.1 million, or $0.64 diluted EPS, versus $92.4 million, or $0.82, in 2024
Q4 2025 Distributable Earnings were $17.9 million, or $0.12 per diluted share, versus $31.2 million, or $0.30, a year earlier
Book value was $14.15 per diluted common share; first quarter 2026 common dividend declared at $0.20, payable on or about April 10, 2026
Franklin BSP Realty Trust, Inc. (FBRT) said its board appointed Michael Comparato as chief executive officer, effective immediately, succeeding Richard J. Byrne, who resigned as CEO on February 10, 2026. Byrne will remain chairman, and Brian Buffone was appointed president to succeed Comparato, also effective immediately. The change is a leadership transition at the top of the company, which is externally managed by Benefit Street Partners L.L.C.
Michael Comparato, 48, appointed CEO effective February 10, 2026; he had been president since March 2023
Richard J. Byrne resigned as CEO on February 10, 2026 and will continue as Chairman of the Board
Brian Buffone, 48, appointed president; he has been head of real estate operations at the Advisor since January 2025
Franklin BSP Realty Trust reported third-quarter 2025 GAAP net income of $17.6 million, or $0.12 per diluted share, down from $24.4 million, or $0.19, in the prior quarter. Distributable Earnings were $26.7 million, or $0.22 per diluted share on a fully converted basis, compared with $29.0 million, or $0.27, in the second quarter, while book value fell to $14.29 from $14.82 per share. Total income rose to $89.5 million from $54.0 million a year earlier.
GAAP net income of $17.6 million and diluted EPS of $0.12 for the quarter ended September 30, 2025, versus $0.30 a year earlier
Distributable Earnings of $26.7 million, or $0.22 per diluted share, versus $29.0 million, or $0.27, in the quarter ended June 30, 2025
Declared a common stock cash dividend of $0.355 per share; book value of $14.29 per diluted share at September 30, 2025
Completed the $425 million acquisition of NewPoint Holdings JV LLC on July 1, 2025, and closed an approximately $1.1 billion securitization on October 15, 2025
Franklin BSP Realty Trust's consolidated subsidiary closed a $1.076 billion commercial real estate mortgage securitization on October 15, 2025, selling about $947 million of notes in a private placement. The company says it will use the net proceeds primarily to repay borrowings under its current credit facilities, fund future loans and investments, and for general corporate purposes.
Closing date was October 15, 2025; the Offered Notes are secured by a portfolio of about $947 million in mortgage loans and participations.
Class A Notes total $608,138,000 with an initial rate of 1.3860% plus 1 Month CME Term SOFR; notes mature April 17, 2043.
The Company retained the preferred shares of the Issuer through a wholly-owned subsidiary, and will account for the issuance as a financing on its balance sheet.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) reported GAAP net income of $24.4 million and distributable earnings of $29.0 million for the quarter ended June 30, 2025. Diluted EPS was $0.19, down from $0.20 in the first quarter, while book value per diluted share fell to $14.82 and the company declared a $0.355 common dividend. The company also completed its acquisition of NewPoint Holdings JV LLC on July 1, 2025, for $428.2 million.
GAAP net income of $24.4 million, up from $23.7 million in the first quarter of 2025; diluted EPS of $0.19 versus $0.20 in the first quarter
Distributable earnings of $29.0 million, or $0.27 per fully converted share, compared with a loss of $6.2 million in the first quarter
Book value of $14.82 per diluted share on a fully converted basis, and a common dividend of $0.355 per share
NewPoint Holdings JV LLC acquisition closed July 1, 2025 for total consideration of $428.2 million, including $337.3 million in cash
On July 1, 2025, Franklin BSP Realty Trust's subsidiaries completed the purchase of all membership interests in NewPoint Holdings JV LLC, a commercial real estate finance company. The consideration was $318,750,000 in cash, subject to post-closing adjustment, plus 8,385,951 Class A Units of the purchaser's operating partnership. The company describes the deal as a major expansion of its multifamily lending capabilities, and the unit issuance could add common shares if holders later elect redemption.
Closed July 1, 2025, under a Purchase and Sale Agreement dated March 9, 2025
Cash consideration of $318,750,000, which remains subject to post-closing adjustment
8,385,951 Class A Units issued; after 12 months, holders may elect redemption for cash or one FBRT common share per unit
Company press release states total consideration of $425 million
Franklin BSP Realty Trust reported first-quarter 2025 GAAP net income of $23.7 million, or $0.20 per diluted share, down from $30.2 million in the fourth quarter of 2024. Distributable Earnings, a non-GAAP measure, were negative at $(6.2) million, or $(0.12) per share, after $38.2 million of realized losses, compared with $31.2 million in the prior quarter, so shareholders saw lower earnings and a distributable loss this quarter.
GAAP net income was $23.7 million, or $0.20 per diluted share, versus $30.2 million, or $0.29 per share, for the quarter ended December 31, 2024.
Distributable Earnings were $(6.2) million, or $(0.12) per fully converted share, versus $31.2 million, or $0.30, in the prior quarter; the release says $38.6 million of the related allowance charges were recognized in GAAP earnings in prev
Fully converted book value was $14.95 per share at March 31, 2025, versus $15.19 at the end of 2024; a $0.355 common dividend was declared.
The company signed a definitive agreement to acquire NewPoint Holdings JV LLC, a privately held commercial real estate finance company headquartered in Plano, Texas.
Franklin BSP Realty Trust (FBRT) signed a definitive agreement on March 9, 2025, to acquire NewPoint Holdings JV LLC, a commercial real estate finance company. The filing gives $318,750,000 in cash, subject to adjustments, plus 8,385,951 Class A units of FBRT's operating company, and the investor presentation puts the total at $425 million. The company expects the deal to be accretive to GAAP earnings per share in the first half of 2026 but to reduce fully converted book value per share by $0.26 to $0.28 at closing.
Cash consideration of $318,750,000 plus 8,385,951 Class A units of FBRT's operating company, subject to a purchase price adjustment
Expected to close in the third quarter of 2025, subject to closing conditions including regulatory approvals; either party may terminate if not closed by December 9, 2025
Company projects accretion to GAAP EPS in the first half of 2026 and to distributable EPS in the second half of 2026, but a $0.26 to $0.28 reduction in fully converted book value per share at close
NewPoint has a $54.7 billion servicing portfolio as of December 31, 2024 and holds all three agency licenses, which FBRT says will allow it to originate agency loans directly
Franklin BSP Realty Trust reported fourth-quarter 2024 GAAP net income of $30.2 million, or $0.29 per diluted share, up slightly from $30.0 million, or $0.28, a year earlier. For the full year, GAAP net income fell to $92.4 million, or $0.82 per diluted share, from $144.5 million, or $1.42, in 2023, and Distributable Earnings fell to $100.7 million from $189.5 million.
Q4 2024 GAAP net income $30.2 million ($0.29 per diluted share) vs. $30.0 million ($0.28) in Q4 2023
Full-year 2024 GAAP net income $92.4 million ($0.82 per diluted share) vs. $144.5 million ($1.42) in 2023
Full-year 2024 Distributable Earnings $100.7 million ($0.92 per fully converted share) vs. $189.5 million ($1.92) in 2023
Declared Q4 2024 common dividend of $0.355 per share; book value $15.19 per diluted share at December 31, 2024
For the quarter ended September 30, 2024, Franklin BSP Realty Trust reported GAAP net income of $30.2 million, or $0.30 per diluted share, compared with a $3.8 million loss in the prior quarter. Distributable Earnings, a non-GAAP measure the company says supports its dividend, was a loss of $4.0 million, or $(0.10) per share, down from $32.4 million in the second quarter. The GAAP improvement was offset by that drop, and the company declared a third-quarter common dividend of $0.355 per share.
GAAP net income of $30.2 million ($0.30 diluted EPS) for Q3 2024, versus a $3.8 million loss in Q2 2024
Distributable Earnings of $(4.0) million, or $(0.10) per share fully converted, versus $32.4 million, or $0.31, in Q2 2024
Declared third-quarter common dividend of $0.355 per share; GAAP dividend coverage 85%, Distributable Earnings coverage (28)%
Book value $15.24 per diluted share fully converted; $31.1 million remained under the $65 million buyback as of October 30, 2024
Franklin BSP Realty Trust's subsidiary closed a securitization of about $1.024 billion in commercial real estate mortgages on September 26, 2024, selling about $886 million of the notes in a private placement. The company said proceeds will repay borrowings under its current credit facilities, fund future loans and investments, and support general corporate purposes, and it intends to hold the portfolio to maturity as financing on its balance sheet.
Offered notes total about $886 million; the target pool balance is about $1.024 billion, including a $100 million ramp-up period for multifamily loans.
Class A notes of $558,340,000 carry an initial rate of 1.638% plus 1 Month CME Term SOFR; the notes mature July 15, 2039.
Notes are limited recourse, payable solely from portfolio cash flow and other company assets.
Interest is payable monthly beginning October 15, 2024.
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