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AI brief of an SEC Form 8-K · Franklin BSP Realty Trust (FBRT)

Franklin BSP Realty Trust Q1 net income falls to $12.3 million; DE turns positive

Mixed Impact 3 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyFranklin BSP Realty Trust (FBRT)
Form8-K, current report
Filed with the SECApr 29, 2026, 4:26 PM ET
Accession number0001562528-26-000016

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 29, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.