10-Q Filing

FRANKLIN BSP REALTY TRUST, INC. CIK: 1562528 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001562528-13-000008`
Period End Date	20130930
Filing Date	20131114
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	ck1562528-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 28 Cash Flow Statement 31 Stockholders Equity 14

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$160.53K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Loan receivable, net	`LoansReceivableNet`	$18.14M	USD	Point-in-time
Loan receivable, net	`LoansReceivableNet`	-	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Accrued interest receivable	`InterestReceivable`	-	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$62.06K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8,888.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	595,377.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$287.24K	USD	Point-in-time
Deferred costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8,888.00	shares	Point-in-time
Deferred costs	`DeferredFinanceCostsNet`	$940.62K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	595,377.00	shares	Point-in-time
Total assets	`Assets`	$18.65M	USD	Point-in-time
Total assets	`Assets`	$941.19K	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	-	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	$5.84M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$635.22K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$121.50K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$1.07M	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	$83.43K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$7.39K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$8.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$756.72K	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at September 30, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at September 30, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 595,377 and 8,888 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$89.00	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 595,377 and 8,888 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$5.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$199.91K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.53K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-318.25K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$184.47K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$18.65M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$941.19K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestAndDividendIncomeOperating`	$241.46K	USD	3 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$175.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$8.16K	USD	1 Quarter
Interest expense	`InterestExpense`	$16.91K	USD	3 Qtrs
Net interest income	`Revenues`	$167.22K	USD	1 Quarter
Net interest income	`Revenues`	$224.54K	USD	3 Qtrs
Board expenses	`BoardExpenses`	$135.72K	USD	3 Qtrs
Board expenses	`BoardExpenses`	$54.29K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$110.00K	USD	3 Qtrs
Insurance expense	`GeneralInsuranceExpense`	$55.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$28.02K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$46.11K	USD	3 Qtrs
Other expenses	`OtherExpenses`	$2.60K	USD	1 Quarter
Other expenses	`OtherExpenses`	$50.55K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$342.38K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$139.91K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$27.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-117.83K	USD	3 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-117.83K	USD	3 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$27.32K	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.50	USD	3 Qtrs
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.50	USD	3 Qtrs
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	237,444.00	shares	3 Qtrs
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	308,116.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	237,444.00	shares	3 Qtrs
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	312,115.00	shares	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$27.32K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-117.83K	USD	3 Qtrs
Discount accretion	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$58.09K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$11.34K	USD	3 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$62.06K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$287.24K	USD	3 Qtrs
Interest payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$726.18K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInInterestPayableNet`	$7.39K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$219.68K	USD	3 Qtrs
Loan investments	`ProceedsFromLoanOriginations1`	$-18.11M	USD	3 Qtrs
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	$-25.89K	USD	1 Quarter
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	$-25.89K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.08M	USD	3 Qtrs
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.20M	USD	2 Qtrs
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.02M	USD	3 Qtrs
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.00M	USD	Point-in-time
Payments of offering costs and fees related to common stock issuances	`PaymentsOfStockIssuanceCosts`	$2.72M	USD	3 Qtrs
Borrowings on revolving line of credit with affiliate	`ProceedsFromDebtNetOfIssuanceCosts`	$9.19M	USD	3 Qtrs
Repayments of revolving line of credit with affiliate	`RepaymentsOfLinesOfCredit`	$3.35M	USD	3 Qtrs
Advances from affiliate	`IncreaseDecreaseInDueToAffiliates`	$947.21K	USD	3 Qtrs
Distributions paid	`PaymentsOfCapitalDistribution`	$57.33K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.02M	USD	3 Qtrs
Net change in cash	`CashPeriodIncreaseDecrease`	$159.96K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$160.53K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$160.53K	USD	Point-in-time
Escrow deposits payable related to loan investments	`EscrowDepositsRelatedToPropertySales`	$50.00K	USD	3 Qtrs
Distributions payable	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$83.43K	USD	3 Qtrs
Common stock issued through distribution reinvestment plan	`CommonStockIssuedDividendReinvestmentInvestmentPlan`	$44.13K	USD	3 Qtrs
Reclassification of deferred offering costs to additional paid-in capital	`ReclassificationOfDeferredOfferingCosts`	$940.62K	USD	3 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`SharesOutstanding`	595,377.00	shares	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.25M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$184.47K	USD	Point-in-time
Issuances of common stock	`StockIssuedDuringPeriodValueNewIssues`	$14.02M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$27.32K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-117.83K	USD	3 Qtrs
Distributions declared	`Dividends`	$184.89K	USD	3 Qtrs
Common stock issued through distribution reinvestment plan (in shares)	`StockIssuedDuringPeriodSharesDividendReinvestmentPlan`	1,858.00	shares	3 Qtrs
Common stock issued through distribution reinvestment plan	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$44.13K	USD	3 Qtrs
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$11.34K	USD	3 Qtrs
Common stock offering costs, commissions and dealer manager fees	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.70M	USD	3 Qtrs
Balance, shares	`SharesOutstanding`	595,377.00	shares	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.25M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$184.47K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.