Commercial real estate lender Franklin BSP Realty Trust (NYSE: FBRT) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Franklin BSP Realty Trust missed analysts’ revenue expectations by 6% last quarter, reporting revenues of $52.01 million, up 1.8% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Franklin BSP Realty Trust a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Franklin BSP Realty Trust’s revenue to grow 198% year on year to $55.77 million, a reversal from the 70.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Franklin BSP Realty Trust’s peers in the thrifts & mortgage finance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PennyMac Financial Services’s revenues decreased 7.1% year on year, missing analysts’ expectations by 19.8%, and Two Harbors Investment reported a revenue decline of 109%, falling short of estimates by 109%. PennyMac Financial Services traded down 7.5% following the results.
Read our full analysis of PennyMac Financial Services’s results here and Two Harbors Investment’s results here.
There has been positive sentiment among investors in the thrifts & mortgage finance segment, with share prices up 4.1% on average over the last month. Franklin BSP Realty Trust is down 1.8% during the same time and is heading into earnings with an average analyst price target of $15.20 (compared to the current share price of $10.50).
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