---
schema_version: "secwatch.filing_event.v1"
accession: "0001562528-26-000003"
form_type: "8-K"
ticker: "FBRT"
cik: "0001562528"
company_name: "Franklin BSP Realty Trust, Inc."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:18:27.698583+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001562528-26-000003
- form_type: 8-K
- ticker: FBRT
- cik: 0001562528
- company_name: Franklin BSP Realty Trust, Inc.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1562528/000156252826000003/0001562528-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1562528/000156252826000003/fbrt-20260211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562528-26-000003
- JSON: https://secwatch.observer/filing/0001562528-26-000003.json
- Plain text: https://secwatch.observer/filing/0001562528-26-000003.txt

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