2024-07-11 00:32:25 ET
Summary
- Franklin BSP Realty Trust is undervalued at 7.7x FWD earnings and .81x book value, with a strong focus on multi-family loans.
- The company's portfolio is well-diversified with mainly floating rate loans, high coupons, and low duration, providing resilience to interest rate changes.
- Earnings continue to grow steadily, with a strong liquidity position enabling the company to originate loans and potentially increase book value per share.
- Shares are a buy with a price target of $15.
Investment Thesis
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Franklin BSP Realty Is On The Offensive