Franklin BSP Realty Trust (FBRT) reported FY 2025 GAAP net income of USD 84.1 million, with diluted GAAP net income of USD 0.64 per share and fully converted GAAP net income of USD 0.68 per share. Distributable Earnings were USD 67.3 million and Distributable Earnings to Common were USD 45.9 million, with Distributable earnings per share (fully converted) of USD 0.49. Book value per share was USD 14.38 at December 31, 2025, and fully-converted book value per share was USD 14.15. For FY 2025, interest income was USD 430.3 million (-18.2%) and interest expense was USD 288.3 million (-14.8%), resulting in net interest income/spread of USD 138.1 million (-25.9%) and a net interest spread of 1.6% (vs. 1.9%). Gain on sales, including fee-based services, net was USD 57.6 million (4.4x), including USD 37.3 million from the Agency Business and USD 20.3 million from the conduit segment. FBRT also reported income from mortgage servicing rights of USD 28.6 million and servicing revenue of USD 12.5 million. Benefit for credit losses was USD 11.9 million, and the company recorded a USD 7.7 million loss on extinguishment of debt. Total expenses from operations were USD 186.4 million (up 115.6%), including compensation and benefits of USD 53.7 million following the NewPoint acquisition. Business highlights included the July 1, 2025 acquisition of NewPoint, establishing FBRT’s Agency Business segment; as of December 31, 2025, the servicing portfolio totaled USD 47.8 billion UPB, and FBRT owned USD 212.2 million of MSRs tied to USD 21.6 billion UPB. In financing, FBRT raised USD 1.1 billion through its BSPRT 2025-FL12 CLO and reported USD 29.5 million of CLO reinvestment capital available as of December 31, 2025. FBRT ended FY 2025 with net debt-to-equity and total leverage ratios of 2.5x, and near-term liquidity of USD 821 million (including USD 167 million unrestricted cash). The board declared a Q4 2025 common dividend of USD 0.355 per share (paid in January 2026).

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Franklin BSP Realty Trust Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001562528-26-000008), on February 25, 2026, and is solely responsible for the information contained therein.