Only one of our models could value this stock with confidence, so use it as a guide.
Not used by alerts or posts.
Valued as a REIT (property company): Price to FFO and EV/EBITDA comparison.
ACCE opinionFranklin BSP Realty Trust Inc. Common Stock (FBRT)
Fair value (2 models)
Not available
ACCE price target
$5.30
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $6.24 at the close on 23 Oct 2026, 22:00 CEST.
Models: EV/EBITDA comparison and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
42
out of 100
Analysts
60% buy
5 covering
P/E
14.2x
forward 5.6x
1-year return
-42.1%
Dividend yield
12.80%
Franklin BSP Realty Trust Inc. Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Franklin BSP Realty Trust is a commercial mortgage REIT that originates and holds senior loans and CRE debt on office, multifamily, industrial and hospitality properties, funded largely with repo lines and secured debt. It is a lender, not a landlord, so its earnings rest on net interest spread and credit performance rather than rent growth. The company's edge is a sponsor relationship with Franklin Templeton and BSP that gives it deal flow in a market where bank lending has pulled back. Revenue grew 14.2% over the period in the data, but the 4.1% ROE and 8.6% operating margin show how little of that top line reaches shareholders after funding costs and loan loss provisions, and the composite score of 42/100 and absence from any index reflect that weakness. A deeper look is worth it mainly to test whether the 14.3x trailing P/E reflects a normalized earnings base or a cyclical trough, and whether credit quality on the office book is holding.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Earnings falling sharply
Earnings YoY is -36.8% while revenue grew 14.2%, so profits are not keeping pace with the top line. Net margin of 21.4% sits against a sharp earnings decline.
high
Leverage elevated
Debt/Equity is 2.95, a heavy reliance on borrowing that amplifies losses if the mortgage book weakens. ROE of only +4.1% gives little cushion for that load.
moderate
Trading above ACCE target
The price sits 17.7% above the ACCE price target of $5.30, with the current price at $6.24. The stock already prices in more than our target supports.
moderate
Elevated short interest
Short interest is 9.0% of ownership, meaning a meaningful bearish bet is in place against the shares.
AI research notes
AI-assisted·How I use AIWritten Oct 18, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 14.2% year over year, and the five-year average annual growth rate is 24.7%.
Free cash flow over the last twelve months came to $292M, and the stock's free cash flow yield is 56.6%.
Why it could disappoint
Return on equity is just 4.1%, and return on invested capital is only 1.2%, so the business earns little on its capital.
Debt to equity sits at 2.95, and the diluted share count rose 5.3% last fiscal year, diluting existing holders.
Latest earnings per share missed expectations by 15.0%, with 0.17 reported against 0.20 expected.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 28, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where FBRT's valuation models land
Price
$6.24
Model fair valueConfidence: medium
$11.87
Model
Fair value
Upside
EV/EBITDA comparison
Price to FFO
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores