NAS10029,644+0.67%S&P7,651+0.17%GOLD$4,417−0.18%BTC$81,133−0.12%VIX14.81−4.08%live tape · as of 23:00 UTC · 20 Sep
The Screen · Real Estate · REIT - Mortgage
Franklin BSP Realty Trust Inc
FBRT · the NYSE · USD · Market cap $628M · 243 employees
Franklin BSP Realty Trust, Inc., a real estate finance company, originates and manages a diversified portfolio of commercial real estate debt investments through a REIT structure in the United States and internationally.
FAIL · Does not pass the screen
8.16 USD
At the last full screen 2025-12-31
Screened 2025-12-31 · the tape above runs as of 23:00 UTC · 20 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 8.16 against the desk's fair-value range, base estimate 15.62, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price8.16 USD
Fair value15.62
Ethical score70.0/100
Our investment reviews on this name
2026-08-28Read Markup8.16+0.0% to today ✓
2026-07-28Read Markdown8.16+0.0% to today
2026-07-02Read Distribution8.35-2.3% to today ✓
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Franklin BSP Realty Trust Inc holds its Distribution at $8.16. Consolidating, no directional conviction, held for 99 days.
As held on the ledger · 2025-12-31
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 99 days
Price at the screen
$8.16
Valuation
16.00 trailing · 6.77 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.09
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Its core business involves an activity the values screen does not clear.
Fail
Debt load
70.17%
Below 33%
Interest-bearing debt is 70.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
2.50%
Below 33%
Cash held in interest-bearing accounts and securities is 2.5% of assets, under the one-third limit.
Pass
Receivables
82.89%
Below 49%
Money owed to the company is 82.9% of assets, above the 49% limit.
Fail
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2025-12-31 screen. The gold marker is the market price at the same screen. A 91.5% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus Buy. The average target sits +53% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2025-12-31 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FBRT trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-28Markup · changed$8.16+0.0%Entry 5
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (4 analysts) rates it none, with a mean price target of $13.
2026-07-28Markdown · changed$8.16-2.3%Entry 4
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (4 analysts) rates it none, with a mean price target of $13.
2026-07-18Distribution$8.35+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (4 analysts) rates it none, with a mean price target of $13.
2026-07-03Distribution$8.35+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$8.35Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.