Earnings Releases·Oct 28, 2026, 4:28 PM ET

Franklin BSP Realty Trust — Third Quarter 2026 Earnings Summary

Reported a GAAP net loss of $27.0 million ($0.41/share) and Distributable Earnings of $3.3 million ($0.02/share) for Q3 2026, compared to net income of $17.6 million and Distributable Earnings of $26.7 million in Q3 2025, driven by a $43.1 million net provision for credit losses.
Book value per diluted common share on a fully converted basis increased $0.02 to $14.26, while adjusted fully converted book value rose $0.39 to $15.13; total assets declined slightly to $6.03 billion from $6.06 billion at year-end 2025.
The Board extended the share repurchase program to December 31, 2027, and the company repurchased 7.4 million shares for $60.5 million, resulting in $0.55 per share of book value accretion.
Agency Business servicing portfolio grew $1.4 billion to $61.3 billion with $670.4 million in new loan commitments, while the Core Portfolio maintained an average risk rating of 2.4 despite 13 loans totaling $333.6 million on the watch list.
Management provided no specific forward-looking financial guidance, citing continued execution on resolving legacy assets and growing the Agency Business, while noting macroeconomic risks including inflation and interest rate changes.