FBRT Q4 GAAP EPS $0.13, cuts quarterly dividend to $0.20 from $0.355

Franklin BSP Realty Trust, Inc.

2025-FY EPS reported $0.64 revenue$270,071,000

GAAP net income $18.4M (Q4), $84.1M (FY); diluted EPS $0.13 and $0.64 vs $0.29 and $0.82 YoY.
Distributable earnings (non-GAAP) $17.9M/$0.12 per share (Q4); $67.3M/$0.49 (FY), down from $31.2M/$0.30 and $100.7M/$0.92.
Board reset quarterly common dividend to $0.20, down from $0.355; Q1 2026 dividend declared at $0.20.
Book value $14.15 per diluted common share on fully converted basis; repurchased 1.37M shares at $10.48.
Closed $528.3M new loan commitments; acquired NewPoint in July 2025 (originated $5.5B agency loans).

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