Franklin BSP Realty Trust (FBRT – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Tom Catherwood from BTIG maintained a Buy rating on the stock and has a $16.00 price target.
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Tom Catherwood has given his Buy rating due to a combination of factors surrounding Franklin BSP Realty Trust’s recent performance and strategic actions. Despite some challenges in stabilizing their watchlist and foreclosures, the company’s strong focus on multifamily properties has limited realized losses and maintained CECL stability. This indicates robust principal protection within their portfolio.
Additionally, FBRT’s origination activities have shown impressive growth, with a 16.1% increase in loan originations in the fourth quarter, culminating in over $2 billion for the fiscal year 2024. This growth, coupled with successful asset sales and a proactive approach during a period when many peers were less active, highlights the company’s confident underwriting capabilities and promising portfolio outlook, justifying the Buy rating.
Catherwood covers the Real Estate sector, focusing on stocks such as COPT Defense Properties, Alexandria Equities, and Prologis. According to TipRanks, Catherwood has an average return of -1.8% and a 45.45% success rate on recommended stocks.
In another report released on February 10, B.Riley Financial also reiterated a Buy rating on the stock with a $15.00 price target.