--- title: "Franklin BSP Realty Trust | 8-K: FY2026 Q2 Revenue: USD 65.29 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294262024.md" datetime: "2026-07-29T21:03:23.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294262024.md) - [en](https://longbridge.com/en/news/294262024.md) - [zh-HK](https://longbridge.com/zh-HK/news/294262024.md) generator: "portal-rs" --- # Franklin BSP Realty Trust | 8-K: FY2026 Q2 Revenue: USD 65.29 M Revenue: As of FY2026 Q2, the actual value is USD 65.29 M. EPS: As of FY2026 Q2, the actual value is USD 0.12, missing the estimate of USD 0.2367. EBIT: As of FY2026 Q2, the actual value is USD 80.64 M. ### Financial Highlights for the Quarter Ended June 30, 2026 #### Net Income and Earnings GAAP net income for Franklin BSP Realty Trust, Inc. was $16.3 million for the three months ended June 30, 2026, and $28.6 million for the six months ended June 30, 2026. Net income applicable to common stock was $9.7 million for the three months ended June 30, 2026, compared to $16.5 million for the same period in 2025. For the six months ended June 30, 2026, net income applicable to common stock was $15.7 million, compared to $33.8 million for the same period in 2025. Distributable Earnings (non-GAAP) were $28.3 million for the three months and $41.8 million for the six months ended June 30, 2026. Distributable Earnings before realized losses (non-GAAP) were $30.2 million for the three months and $56.0 million for the six months ended June 30, 2026. #### Book Value and Share Repurchases Book value per diluted common share on a fully converted basis was $14.24 as of June 30, 2026, an increase of $0.06 from the prior quarter. Adjusted fully converted book value per share was $14.74, an increase of $0.16 from the prior quarter. Franklin BSP Realty Trust, Inc. repurchased 1,838,855 shares of common stock for an aggregate of $16.0 million at an average price of $8.70 per share during the quarter, which resulted in a $0.11 increase in book value per diluted common share on a fully converted basis. #### Liquidity and Dividends Total liquidity was $796.7 million, including $136.3 million in cash and cash equivalents, as of June 30, 2026. Franklin BSP Realty Trust, Inc. declared a second-quarter common stock cash dividend of $0.20. #### Core Portfolio Metrics The core portfolio’s principal balance totaled $4.3 billion across 172 loans, with an average loan size of $25.3 million. Approximately 80% of these loans were collateralized by multifamily properties. New loan commitments of $166.7 million were closed at a weighted average spread of 238 basis points. Franklin BSP Realty Trust, Inc. funded $248.4 million of principal balance on new and existing loans and received loan repayments of $457.7 million. The average portfolio risk rating improved to 2.4 from 2.5 in the prior quarter. At quarter-end, 12 loans were on the watch list, with seven risk-rated a four and five risk-rated a five. #### Agency Business Segment The servicing portfolio grew by $1.7 billion to $59.8 billion. Franklin BSP Realty Trust, Inc. originated $398.8 million of new loan commitments under programs with Fannie Mae, Freddie Mac, and HUD. Mortgage Servicing Rights (MSRs) were valued at $205.5 million. #### Conduit Segment Franklin BSP Realty Trust, Inc. originated $78.3 million of fixed-rate conduit loans and sold $249.5 million of conduit loans for a gain of $6.0 million, gross of related derivatives. #### Real Estate Owned and Equity Method Investments Franklin BSP Realty Trust, Inc. held six foreclosure real estate owned (REO) positions totaling $198.7 million, one investment REO position of $115.2 million, and five equity method investment positions of $89.2 million. The REO portfolio included six foreclosure positions totaling $199 million and one investment real estate owned position of $115 million. #### Allowance for Credit Losses A net provision for credit losses of $7.2 million was recognized during the quarter. This included a $5.2 million provision for the core portfolio and a $2.0 million provision for the Agency Business. For the six months ended June 30, 2026, the provision for credit losses was - $18.6 million. Total Allowance for Credit Losses was $54.7 million, representing 1.3% of the Total UPB, with $36.9 million for General CECL Allowance and $17.8 million for Specific CECL Allowance. #### Other Financial Metrics Interest income was $97.2 million for the three months ended June 30, 2026, compared to $111.2 million for the same period in 2025. Net interest income for the quarter was $29.9 million, compared to $41.0 million for the same period in 2025. Total income was $65.3 million for the three months ended June 30, 2026, compared to $49.3 million for the same period in 2025. Total expenses were $53.1 million for the three months ended June 30, 2026, compared to $29.6 million for the same period in 2025. Operating expenses were - $15.0 million. Realized gain/(loss) on debt extinguishment was - $0.9 million for the three and six months ended June 30, 2026. Other income/(loss) was $10.3 million. #### Capitalization and Balance Sheet Net debt to equity was 2.6x, and recourse net debt to equity was 0.7x. As of June 30, 2026, total assets were $6,383.8 million, including a total core portfolio of $4,275.1 million, loans held-for-sale of $251.8 million, mortgage servicing rights of $205.5 million, and real estate owned of $317.5 million. Total debt was $4,165.5 million, comprising $2,943.6 million in collateralized loan obligations, $802.4 million in repurchase agreements and revolving credit facilities, and $185.9 million in unsecured debt. Total equity was $1,549.2 million. The average cost of debt, including financing costs, increased to 6.2% in Q2 2026 from 6.0% in Q1 2026. #### Outlook The Board of Directors reauthorized Franklin BSP Realty Trust, Inc.’s share repurchase program on July 28, 2026. This reauthorization makes $50.0 million available for share repurchases through December 31, 2026. The report includes forward-looking statements but explicitly states no obligation to update or revise them, noting that actual results may differ materially due to various factors. ### Related Stocks - [FBRT.US](https://longbridge.com/en/quote/FBRT.US.md) ## Related News & Research - [Franklin BSP Realty Trust GAAP net income drops to $28.57 million in 1H FY26 from $48.09 million in 1H FY25](https://longbridge.com/en/news/294264504.md) - [Franklin BSP Realty Trust (FBRT) Q1 Earnings Report Preview: What To Look For](https://longbridge.com/en/news/284302408.md) - [Canada slaps retaliatory tariffs on US goods worth US$20 billion amid spiralling trade war](https://longbridge.com/en/news/296970440.md) - [Sailfish net income jumps to US$136.56 million in Q2 FY26; revenue rises 87.49% to US$1.34 million](https://longbridge.com/en/news/297033058.md) - [Borr Drilling director Trøim-linked Drew Holdings buys USD 874,620 of shares](https://longbridge.com/en/news/296859574.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**