FBRT Q1 GAAP net loss $22.5M; Run-Rate Distributable Earnings $40.1M; ARM portfolio slashed to $1.9B

Franklin BSP Realty Trust, Inc.

2022-Q1 EPS reported -$0.99 revenue$55,090,000

GAAP net loss $22.5M ($0.30 per fully converted share) vs $72.9M loss in Q4 2021.
Run-Rate Distributable Earnings $40.1M ($0.39 per share); dividend $0.355 per share.
ARM portfolio reduced from $4.6B to $1.9B in Q1, further to $649M by May 3 (91% decline from Sept 2021).
Core CRE portfolio grew to $4.6B with $603M in new commitments; one non-performing loan.
Book value $16.50 per fully converted share; advisor bought 573k shares for $7.5M in Q1.

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