10-Q Filing

FRANKLIN BSP REALTY TRUST, INC. CIK: 1562528 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001562528-14-000007`
Period End Date	20140331
Filing Date	20140512
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ck1562528-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 58 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
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$178.03K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$352.42K	USD	Point-in-time
Loans receivable, net	`LoansReceivableNet`	$54.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.33M	shares	Point-in-time
Loans receivable, net	`LoansReceivableNet`	$30.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.98M	shares	Point-in-time
Mortgage-backed securities, at fair value	`AvailableForSaleSecurities`	$5.00M	USD	Point-in-time
Mortgage-backed securities, at fair value	`AvailableForSaleSecurities`	$14.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.33M	shares	Point-in-time
Accrued interest receivable	`InterestReceivable`	$324.37K	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$126.12K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$1.42M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$229.12K	USD	Point-in-time
Total assets	`Assets`	$71.43M	USD	Point-in-time
Total assets	`Assets`	$36.37M	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	$3.30M	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	$7.30M	USD	Point-in-time
Repurchase agreement	`SecuritiesSoldUnderAgreementsToRepurchase`	-	USD	Point-in-time
Repurchase agreement	`SecuritiesSoldUnderAgreementsToRepurchase`	$4.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.74M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.83M	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	$469.16K	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	$215.75K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$11.97K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$14.63K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	-	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$1.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.61M	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 2,984,616 and 1,330,669 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$13.27K	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 2,984,616 and 1,330,669 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$29.81K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$63.22M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.75K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.58K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-605.15K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$61.82M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.02M	USD	Point-in-time
Total stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.37M	USD	Point-in-time
Total stockholders' equity	`LiabilitiesAndStockholdersEquity`	$71.43M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestAndDividendIncomeOperating`	$1.00	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$976.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.04K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Net interest income	`Revenues`	$1.00	USD	1 Quarter
Net interest income	`Revenues`	$955.80K	USD	1 Quarter
Board expenses	`BoardExpenses`	-	USD	1 Quarter
Board expenses	`BoardExpenses`	$46.69K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$55.00K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$113.16K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$5.02K	USD	1 Quarter
Acquisition fees	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Acquisition fees	`BusinessCombinationAcquisitionRelatedCosts`	$259.00K	USD	1 Quarter
Other expenses	`OtherExpenses`	$169.70K	USD	1 Quarter
Other expenses	`OtherExpenses`	-	USD	1 Quarter
Loan loss provision	`ProvisionForLoanAndLeaseLosses`	-	USD	1 Quarter
Loan loss provision	`ProvisionForLoanAndLeaseLosses`	$86.46K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.02K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$730.01K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$225.79K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-5.02K	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8,888.00	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.03M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8,888.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.03M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$225.79K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.02K	USD	1 Quarter
Discount accretion, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$51.81K	USD	1 Quarter
Discount accretion, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$4.44K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Loan loss provision	`ProvisionForLoanAndLeaseLosses`	-	USD	1 Quarter
Loan loss provision	`ProvisionForLoanAndLeaseLosses`	$86.46K	USD	1 Quarter
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	-	USD	1 Quarter
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$198.25K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.19M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInInterestPayableNet`	$92.02K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.02K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.66K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.04M	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Loan investments	`ProceedsFromLoanOriginations1`	-	USD	1 Quarter
Loan investments	`ProceedsFromLoanOriginations1`	$-24.07M	USD	1 Quarter
Mortgage-backed securities investments	`PaymentsToAcquireAvailableForSaleSecurities`	$9.50M	USD	1 Quarter
Mortgage-backed securities investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	-	USD	1 Quarter
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	$-37.80K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.52M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$40.84M	USD	1 Quarter
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
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`	$413.06K	USD	1 Quarter
Payments of offering costs and fees related to common stock issuances	`PaymentsOfStockIssuanceCosts`	$4.50M	USD	1 Quarter
Common stock repurchase	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Common stock repurchase	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Borrowings on revolving line of credit with affiliate	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	1 Quarter
Borrowings on revolving line of credit with affiliate	`ProceedsFromDebtNetOfIssuanceCosts`	$3.30M	USD	1 Quarter
Repayments of revolving line of credit with affiliate	`RepaymentsOfLinesOfCredit`	$7.30M	USD	1 Quarter
Repayments of revolving line of credit with affiliate	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Borrowings on repurchase agreement	`ProceedsFromSecuritiesPurchasedUnderAgreementsToResell`	$4.01M	USD	1 Quarter
Repayments on repurchase agreement	`PaymentsForSecuritiesPurchasedUnderAgreementsToResell`	$10.00K	USD	1 Quarter
Advances from (repayments to) affiliate	`PaymentsOfCapitalDistribution`	$1.08M	USD	1 Quarter
Advances from (repayments to) affiliate	`PaymentsOfCapitalDistribution`	$-418.49K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$522.84K	USD	1 Quarter
Net cash provided by financing activities:	`NetCashProvidedByUsedInFinancingActivities`	$5.43K	USD	1 Quarter
Net cash provided by financing activities:	`NetCashProvidedByUsedInFinancingActivities`	$34.74M	USD	1 Quarter
Net change in cash	`CashPeriodIncreaseDecrease`	$174.39K	USD	1 Quarter
Net change in cash	`CashPeriodIncreaseDecrease`	$5.43K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$178.03K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$352.42K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$178.03K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$352.42K	USD	Point-in-time
Interest paid	`InterestPaid`	$23.70K	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Distributions payable	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	1 Quarter
Distributions payable	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$469.16K	USD	1 Quarter
Common stock issued through distribution reinvestment plan	`CommonStockIssuedDividendReinvestmentInvestmentPlan`	$265.52K	USD	1 Quarter
Common stock issued through distribution reinvestment plan	`CommonStockIssuedDividendReinvestmentInvestmentPlan`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.02M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$61.82M	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$40.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$225.79K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.02K	USD	1 Quarter
Distributions declared	`Dividends`	$1.04M	USD	1 Quarter
Common stock issued through distribution reinvestment plan, shares	`StockIssuedDuringPeriodSharesDividendReinvestmentPlan`	19,136.00	shares	1 Quarter
Common stock issued through distribution reinvestment plan	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$265.52K	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.44K	USD	1 Quarter
Common stock offering costs, commissions and dealer manager fees	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$4.50M	USD	1 Quarter
Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTax`	$4.83K	USD	1 Quarter
Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.02M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$61.82M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$225.79K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.02K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.83K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$4.83K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Comprehensive income (loss) attributable to ARC Realty Finance Trust, Inc.	`ComprehensiveIncomeNetOfTax`	$230.61K	USD	1 Quarter
Comprehensive income (loss) attributable to ARC Realty Finance Trust, Inc.	`ComprehensiveIncomeNetOfTax`	$-5.02K	USD	1 Quarter

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