Franklin BSP Realty Trust Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
FBRT$6.40+3.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(In thousands, except share and per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Income | |||
| Interest income | $552,506 | $357,705 | $216,890 |
| Less: Interest expense | 305,577 | 160,526 | 56,193 |
| Net interest income | 246,929 | 197,179 | 160,697 |
| Revenue from real estate owned | 17,021 | 9,655 | 4,759 |
| Total income | $263,950 | $206,834 | $165,456 |
| Expenses | |||
| Asset management and subordinated performance fee | $33,847 | $26,157 | $28,110 |
| Acquisition expenses | 1,241 | 1,360 | 1,203 |
| Administrative services expenses | 14,440 | 12,928 | 7,658 |
| Impairment of acquired assets | — | — | 88,282 |
| Professional fees | 15,270 | 22,566 | 11,650 |
| Share-based compensation | 4,761 | 2,519 | — |
| Depreciation and amortization | 7,128 | 5,408 | 2,107 |
| Other expenses | 11,135 | 6,572 | 3,946 |
| Total expenses | $87,822 | $77,510 | $142,956 |
| Other income/(loss) | |||
| (Provision)/benefit for credit losses | $(33,738) | $(36,115) | $5,192 |
| Realized gain/(loss) on extinguishment of debt | 2,201 | (5,167) | (4,642) |
| Realized gain/(loss) on sale of available for sale trading securities | 80 | — | — |
| Realized gain/(loss) on sale of commercial mortgage loans, held for sale | — | (354) | 26 |
| Realized gain/(loss) on sale of commercial mortgage loans, held for sale, measured at fair value | 3,873 | 2,358 | 24,208 |
| Gain/(loss) on other real estate investments | (7,089) | (692) | 9,790 |
| Unrealized gain/(loss) on commercial mortgage loans, held for sale, measured at fair value | 44 | (511) | 469 |
| Trading gain/(loss) | (605) | (119,220) | (36,128) |
| Unrealized gain/(loss) on derivatives | (140) | (15,840) | 7,402 |
| Realized gain/(loss) on derivatives | 998 | 60,033 | 484 |
| Total other income/(loss) | $(34,376) | $(115,508) | $6,801 |
| Income/(loss) before taxes | 141,752 | 13,816 | 29,301 |
| (Provision)/benefit for income tax | 2,757 | 399 | (3,599) |
| Net income/(loss) | $144,509 | $14,215 | $25,702 |
| Net (income)/loss attributable to non-controlling interest | 706 | 216 | — |
| Net income/(loss) attributable to Franklin BSP Realty Trust, Inc. | $145,215 | $14,431 | $25,702 |
| Less: Preferred stock dividends | 26,993 | 41,741 | 33,587 |
| Net income/(loss) attributable to common stock | $118,222 | $(27,310) | $(7,885) |
| Basic earnings per share | $1.42 | $(0.38) | $(0.18) |
| Diluted earnings per share | $1.42 | $(0.38) | $(0.18) |
| Basic weighted average shares outstanding | 82,307,970 | 71,628,365 | 43,419,209 |
| Diluted weighted average shares outstanding | 82,307,970 | 71,628,365 | 43,434,731 |
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