Franklin BSP Realty Trust, Inc. (FBRT)

Franklin BSP Realty Trust, Inc. (FBRT) — VMCI valuation read

Franklin BSP Realty Trust, Inc. (FBRT) carries a VMCI composite of 57/100, 7 points above the Real Estate sector median of 50. Among mid-cap names, that gap places FBRT in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The FBRT insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads FBRT trades at 16.0x earnings, 11% below the Real Estate median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Real Estate 12.0x. Quality: ROIC of 14.0% sits 4.0pp above the Real Estate median (10.0%). Risk: net debt to EBITDA of 3.1x is the binding constraint on the bear case, the line to track on Franklin BSP Realty Trust, Inc.'s next 10-Q.

FBRT rose 1.0% over the trailing 7 days, with a -12.1% read on a 30-day basis.