Every material Form 8-K Franklin BSP Realty Trust filed with the SEC in 2026, 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
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.
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