# Franklin BSP Realty Trust, Inc.: overview

FBRT · NYSE · CIK 1562528 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/fbrt.md) · [Financials](/companies/fbrt/financials.md) · [Filings](/companies/fbrt/filings.md) · [Insiders](/companies/fbrt/insiders.md)

Latest reported revenue: [$65.3m](/filings/0001562528-26-000024.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Jul 29, 2026 (XBRL us-gaap:Revenues, accession 0001562528-26-000024).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [5.4](/filings/0001562528-24-000034.md) | [8.7 d](/filings/0001562528-26-000008.md) | [6.8](/filings/0001562528-25-000019.md) | [8.3](/filings/0001562528-25-000030.md) | [89.5](/filings/0001562528-25-000041.md) | [(164) d](/filings/0001562528-26-000008.md) | [74.4](/filings/0001562528-26-000014.md) | [65.3](/filings/0001562528-26-000024.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [584.1%](/filings/0001562528-25-000041.md) | [352.7% d](/filings/0001562528-26-000008.md) | [354.0%](/filings/0001562528-26-000024.md) | [278.3%](/filings/0001562528-26-000024.md) | [19.3%](/filings/0001562528-25-000041.md) | [(10.8%) d](/filings/0001562528-26-000008.md) | [16.1%](/filings/0001562528-26-000024.md) | [23.8%](/filings/0001562528-26-000024.md) |
| Diluted EPS | $ per share | [0.30](/filings/0001562528-25-000041.md) | not reported | [0.20](/filings/0001562528-26-000014.md) | [0.19](/filings/0001562528-26-000024.md) | [0.12](/filings/0001562528-25-000041.md) | not reported | [0.07](/filings/0001562528-26-000014.md) | [0.12](/filings/0001562528-26-000024.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [4.8](/filings/0001562528-24-000008.md) | [9.7](/filings/0001562528-25-000013.md) | [17.0](/filings/0001562528-26-000008.md) | [22.8](/filings/0001562528-26-000008.md) | [29.6](/filings/0001562528-26-000008.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [540.1%](/filings/0001562528-24-000008.md) | [149.5%](/filings/0001562528-25-000013.md) | [853.2%](/filings/0001562528-26-000008.md) | [419.6%](/filings/0001562528-26-000008.md) | [277.6%](/filings/0001562528-26-000008.md) |
| Diluted EPS | $ per share | [(0.18)](/filings/0001562528-24-000008.md) | [(0.38)](/filings/0001562528-25-000013.md) | [1.42](/filings/0001562528-26-000008.md) | [0.82](/filings/0001562528-26-000008.md) | [0.64](/filings/0001562528-26-000008.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/fbrt/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $105.8m | 13,002,861 |  | Reduced −118,999 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $27.9m | 3,429,239 |  | Reduced −131,370 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $27.0m | 3,241,000 |  | Added +31,461 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $16.9m | 2,070,316 |  | Added +28,458 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $15.1m | 1,850,367 |  | Added +110,905 |
| [GRATIA CAPITAL, LLC](/funds/1599793.md) | 2026-06-30 | $14.4m | 1,769,370 |  | Reduced −509,330 |
| [FRANKLIN RESOURCES INC](/funds/38777.md) | 2026-06-30 | $12.2m | 1,500,096 |  | Reduced −290 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $11.0m | 1,346,899 |  | Added +143,219 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $10.4m | 1,279,728 |  | Reduced −1,503,122 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $9.0m | 1,110,467 |  | Reduced −107,273 |

## Recent filings

[All 582 filings](/companies/fbrt/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-28 | 16:28 ET | [8-K](/filings/0001562528-26-000035.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001562528-26-000035 |
| 2026-10-28 | 16:23 ET | [10-Q](/filings/0001562528-26-000033.md) | Quarterly report, period 2026-09-30 | 0001562528-26-000033 |
| 2026-09-17 | 08:43 ET | [8-K](/filings/0001104659-26-108440.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-108440 |
| 2026-07-29 | 17:00 ET | [8-K](/filings/0001562528-26-000025.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001562528-26-000025 |
| 2026-07-29 | 16:59 ET | [10-Q](/filings/0001562528-26-000024.md) | Quarterly report, period 2026-06-30 | 0001562528-26-000024 |
| 2026-06-09 | 16:30 ET | [8-K](/filings/0001104659-26-071863.md) | 5.07 Shareholder vote results | 0001104659-26-071863 |
| 2026-04-29 | 16:26 ET | [8-K](/filings/0001562528-26-000016.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001562528-26-000016 |
| 2026-04-29 | 16:22 ET | [10-Q](/filings/0001562528-26-000014.md) | Quarterly report, period 2026-03-31 | 0001562528-26-000014 |
| 2026-04-20 | 16:30 ET | [8-K](/filings/0001104659-26-045531.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001104659-26-045531 |
| 2026-04-17 | 15:38 ET | [DEF 14A](/filings/0001193125-26-161379.md) | Proxy statement, period 2026-06-08 | 0001193125-26-161379 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001562528-26-000008.md), filed Feb 25, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/4d9e592f-641d-47d4-8c6d-c9957448aa4a)

## About the filer

- CIK: 1562528
- Tickers: FBRT, FBRT-PE
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 11:45 ET. No prices; not investment advice.