Franklin BSP Realty Trust Inc. (NYSE: FBRT) reported GAAP net income of USD 18.4 million for the fourth quarter (Q4) and USD 84.1 million for the full year (FY) ended December 31, 2025. Diluted earnings per share $(EPS)$ to common stockholders for Q4 were USD 0.13, while full-year diluted EPS was USD 0.64. Distributable Earnings, a non-GAAP financial measure, stood at USD 17.9 million, or USD 0.12 per diluted common share for Q4, and USD 67.3 million, or USD 0.49 per diluted common share for FY 2025. Total assets as of December 31, 2025, were approximately USD 6.1 billion. The company continues to originate, acquire, and manage a diversified portfolio of commercial real estate debt secured by properties across the United States. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc.

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