Franklin BSP Realty Trust Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Income | |||
| Interest income | $526,076 | $552,506 | $357,705 |
| Less: Interest expense | 338,471 | 305,577 | 160,526 |
| Net interest income | 187,605 | 246,929 | 197,179 |
| Revenue from real estate owned | 22,849 | 17,021 | 9,655 |
| Total income | $210,454 | $263,950 | $206,834 |
| Expenses | |||
| Asset management and subordinated performance fee | $25,958 | $33,847 | $26,157 |
| Acquisition expenses | 996 | 1,241 | 1,360 |
| Administrative services expenses | 9,707 | 14,440 | 12,928 |
| Professional fees | 14,508 | 15,270 | 22,566 |
| Share-based compensation | 8,173 | 4,761 | 2,519 |
| Depreciation and amortization | 5,630 | 7,128 | 5,408 |
| Other expenses | 21,472 | 11,135 | 6,572 |
| Total expenses | $86,444 | $87,822 | $77,510 |
| Other income/(loss) | |||
| (Provision)/benefit for credit losses | $(35,699) | $(33,738) | $(36,115) |
| Realized gain/(loss) on extinguishment of debt | — | 2,201 | (5,167) |
| Realized gain/(loss) on real estate securities, available for sale | 143 | 80 | — |
| Realized gain/(loss) on sale of commercial mortgage loans, held for sale | — | — | (354) |
| Realized gain/(loss) on sale of commercial mortgage loans, held for investment | 138 | — | — |
| Realized gain/(loss) on sale of commercial mortgage loans, held for sale, measured at fair value | 13,125 | 3,873 | 2,358 |
| Gain/(loss) on other real estate investments | (7,983) | (7,089) | (692) |
| Unrealized gain/(loss) on commercial mortgage loans, held for sale, measured at fair value | — | 44 | (511) |
| Trading gain/(loss) | — | (605) | (119,220) |
| Unrealized gain/(loss) on derivatives | 1,050 | (140) | (15,840) |
| Realized gain/(loss) on derivatives | (1,261) | 998 | 60,033 |
| Total other income/(loss) | $(30,487) | $(34,376) | $(115,508) |
| Income/(loss) before taxes | 93,523 | 141,752 | 13,816 |
| (Provision)/benefit for income tax | (1,120) | 2,757 | 399 |
| Net income/(loss) | $92,403 | $144,509 | $14,215 |
| Net (income)/loss attributable to non-controlling interest | 3,475 | 706 | 216 |
| Net income/(loss) attributable to Franklin BSP Realty Trust, Inc. | $95,878 | $145,215 | $14,431 |
| Less: Preferred stock dividends | 26,993 | 26,993 | 41,741 |
| Net income/(loss) attributable to common stock | $68,885 | $118,222 | $(27,310) |
| Basic earnings per share | $0.82 | $1.42 | $(0.38) |
| Diluted earnings per share | $0.82 | $1.42 | $(0.38) |
| Basic weighted average shares outstanding | 81,846,170 | 82,307,970 | 71,628,365 |
| Diluted weighted average shares outstanding | 81,846,170 | 82,307,970 | 71,628,365 |
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