---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-055946"
form_type: "8-K"
ticker: "FBRT"
cik: "0001562528"
company_name: "Franklin BSP Realty Trust, Inc."
filed_at: "2022-05-05T23:59:59+00:00"
generated_at: "2026-06-25T23:39:46.412632+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-22-055946
- form_type: 8-K
- ticker: FBRT
- cik: 0001562528
- company_name: Franklin BSP Realty Trust, Inc.
- filed_at: 2022-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1562528/000110465922055946/0001104659-22-055946-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1562528/000110465922055946/tm2214386d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-055946
- JSON: https://secwatch.observer/filing/0001104659-22-055946.json
- Plain text: https://secwatch.observer/filing/0001104659-22-055946.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.