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10-Q Filing

FRANKLIN BSP REALTY TRUST, INC. CIK: 1562528 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001562528-16-000022
Period End Date 20160331
Filing Date 20160513
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance arct-20160331.xml
Balance Sheet 83 line items
Line Item Tag Value Unit Period
Allowance LoansAndLeasesReceivableAllowance $888.00K USD Point-in-time
Allowance LoansAndLeasesReceivableAllowance $570.00K USD Point-in-time
Allowance LoansAndLeasesReceivableAllowance $714.00K USD Point-in-time
Allowance LoansAndLeasesReceivableAllowance $1.05M USD Point-in-time
Preferred stock, par value per share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value per share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $17.16M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 50.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $386.00K USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $6.50M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $5.37M USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Commercial mortgage loans, held for investment, net LoansReceivableNet $1.13B USD Point-in-time
Commercial mortgage loans, held for investment, net LoansReceivableNet $1.12B USD Point-in-time
Convertible stock, par value per share (in dollars per share) ConvertibleStockParorStatedValuePerShare $0.01 USD Point-in-time
Real estate securities, available for sale, at fair value AvailableForSaleSecurities $130.75M USD Point-in-time
Real estate securities, available for sale, at fair value AvailableForSaleSecurities $124.87M USD Point-in-time
Convertible stock, par value per share (in dollars per share) ConvertibleStockParorStatedValuePerShare $0.01 USD Point-in-time
Receivable for loan repayment NotesReceivableNet $3.00K USD Point-in-time
Convertible stock, shares authorized (in shares) ConvertibleStockSharesAuthorized 1,000.00 shares Point-in-time
Convertible stock, shares authorized (in shares) ConvertibleStockSharesAuthorized 1,000.00 shares Point-in-time
Receivable for loan repayment NotesReceivableNet $1.31M USD Point-in-time
Convertible stock, shares issued (in shares) ConvertibleStockSharesIssued 1,000.00 shares Point-in-time
Convertible stock, shares issued (in shares) ConvertibleStockSharesIssued 1,000.00 shares Point-in-time
Accrued interest receivable InterestReceivable $5.36M USD Point-in-time
Accrued interest receivable InterestReceivable $5.16M USD Point-in-time
Convertible stock, shares outstanding (in shares) ConvertibleStockSharesOutstanding 1,000.00 shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $689.00K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $900.00K USD Point-in-time
Convertible stock, shares outstanding (in shares) ConvertibleStockSharesOutstanding 1,000.00 shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $649.00K USD Point-in-time
Total assets Assets $1.28B USD Point-in-time
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Total assets Assets $1.31B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 950.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 950.00M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 31.39M shares Point-in-time
Collateralized loan obligations SecuredDebt $287.23M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 31.65M shares Point-in-time
Collateralized loan obligations SecuredDebt $287.32M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 31.39M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 31.65M shares Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $792.00K USD Point-in-time
Loans pledged as collateral LoansPledgedAsCollateral $426.45M USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $924.00K USD Point-in-time
Loans pledged as collateral LoansPledgedAsCollateral $426.15M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.55M USD Point-in-time
Interest receivable InterestReceivable $5.36M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.53M USD Point-in-time
Interest receivable InterestReceivable $5.16M USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $792.00K USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $6.80M USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $924.00K USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $1.34M USD Point-in-time
Due to affiliate DueToAffiliateCurrentAndNoncurrent $4.33M USD Point-in-time
Due to affiliate DueToAffiliateCurrentAndNoncurrent $4.40M USD Point-in-time
Total liabilities Liabilities $628.15M USD Point-in-time
Total liabilities Liabilities $663.55M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2016 and December 31, 2015 PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2016 and December 31, 2015 PreferredStockValue - USD Point-in-time
Convertible stock (promote shares); $0.01 par value, 1,000 shares authorized, issued and outstanding as of March 31, 2016 and December 31, 2015 ConvertibleSharesValueIssued $1.00K USD Point-in-time
Convertible stock (promote shares); $0.01 par value, 1,000 shares authorized, issued and outstanding as of March 31, 2016 and December 31, 2015 ConvertibleSharesValueIssued $1.00K USD Point-in-time
Common stock, $0.01 par value, 949,999,000 shares authorized, 31,645,633 and 31,385,280 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively CommonStockValue $316.00K USD Point-in-time
Common stock, $0.01 par value, 949,999,000 shares authorized, 31,645,633 and 31,385,280 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively CommonStockValue $314.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $691.59M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $698.17M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-7.22M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.25M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-42.08M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-35.32M USD Point-in-time
Total stockholders' equity StockholdersEquity $654.33M USD Point-in-time
Total stockholders' equity StockholdersEquity $649.19M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.28B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.31B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Interest income InterestAndDividendIncomeOperating $9.61M USD 1 Quarter
Interest income InterestAndDividendIncomeOperating $20.29M USD 1 Quarter
Interest expense InterestExpense $4.77M USD 1 Quarter
Interest expense InterestExpense $1.93M USD 1 Quarter
Net interest income Revenues $15.52M USD 1 Quarter
Net interest income Revenues $7.67M USD 1 Quarter
Asset management and subordinated performance fee AssetManagementCosts $3.01M USD 1 Quarter
Asset management and subordinated performance fee AssetManagementCosts $362.00K USD 1 Quarter
Acquisition fees BusinessCombinationAcquisitionRelatedCosts $1.03M USD 1 Quarter
Acquisition fees BusinessCombinationAcquisitionRelatedCosts $157.00K USD 1 Quarter
Administrative services expenses GeneralAndAdministrativeExpense $816.00K USD 1 Quarter
Administrative services expenses GeneralAndAdministrativeExpense - USD 1 Quarter
Professional fees ProfessionalFees $1.38M USD 1 Quarter
Professional fees ProfessionalFees $1.26M USD 1 Quarter
Other expenses GeneralInsuranceExpense $123.00K USD 1 Quarter
Other expenses GeneralInsuranceExpense $694.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $165.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $144.00K USD 1 Quarter
Total expenses OperatingExpenses $3.04M USD 1 Quarter
Total expenses OperatingExpenses $6.10M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.63M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.42M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit - USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit - USD 1 Quarter
Net income NetIncomeLoss $4.63M USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Basic net income per share (in dollars per share) EarningsPerShareBasic $0.30 USD 1 Quarter
Basic net income per share (in dollars per share) EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted net income per share (in dollars per share) EarningsPerShareDiluted $0.27 USD 1 Quarter
Diluted net income per share (in dollars per share) EarningsPerShareDiluted $0.30 USD 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 31.55M shares 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 17.28M shares 1 Quarter
Diluted weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 17.28M shares 1 Quarter
Diluted weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 31.56M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $4.63M USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Premium amortization and (discount accretion), net AccretionAmortizationOfDiscountsAndPremiumsInvestments $575.00K USD 1 Quarter
Premium amortization and (discount accretion), net AccretionAmortizationOfDiscountsAndPremiumsInvestments $189.00K USD 1 Quarter
Accretion of deferred commitment fees AmortizationOfDeferredLoanOriginationFeesNet $382.00K USD 1 Quarter
Accretion of deferred commitment fees AmortizationOfDeferredLoanOriginationFeesNet $145.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $541.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $479.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $6.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $9.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $165.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $144.00K USD 1 Quarter
Accrued interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-582.00K USD 1 Quarter
Accrued interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-705.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-859.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $35.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInInterestPayableNet $-364.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInInterestPayableNet $155.00K USD 1 Quarter
Due to affiliates IncreaseDecreaseInDueToAffiliates $-894.00K USD 1 Quarter
Due to affiliates IncreaseDecreaseInDueToAffiliates $76.00K USD 1 Quarter
Interest payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $132.00K USD 1 Quarter
Interest payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $25.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $5.26M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $10.09M USD 1 Quarter
Origination and purchase of commercial mortgage loans PaymentsToAcquireLoansAndLeasesHeldForInvestment $116.43M USD 1 Quarter
Origination and purchase of commercial mortgage loans PaymentsToAcquireLoansAndLeasesHeldForInvestment $9.70M USD 1 Quarter
Purchase of real estate securities PaymentsToAcquireAvailableForSaleSecurities - USD 1 Quarter
Purchase of real estate securities PaymentsToAcquireAvailableForSaleSecurities $8.02M USD 1 Quarter
Principal repayments received on commercial mortgage loans PaymentsForProceedsFromLoansAndLeases $-9.25M USD 1 Quarter
Principal repayments received on commercial mortgage loans PaymentsForProceedsFromLoansAndLeases $-14.32M USD 1 Quarter
Principal repayments received on real estate securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $928.00K USD 1 Quarter
Principal repayments received on real estate securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities - USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $484.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-110.13M USD 1 Quarter
Proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock $92.81M USD 1 Quarter
Proceeds from issuances of common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $144.00K USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $6.00M USD 1 Quarter
Payments of offering costs and fees related to common stock issuances PaymentsOfStockIssuanceCosts - USD 1 Quarter
Payments of offering costs and fees related to common stock issuances PaymentsOfStockIssuanceCosts $9.18M USD 1 Quarter
Borrowings on repurchase agreements - commercial mortgage loans ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $38.38M USD 1 Quarter
Borrowings on repurchase agreements - commercial mortgage loans ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $85.61M USD 1 Quarter
Repayments of repurchase agreements - commercial mortgage loans PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $6.24M USD 1 Quarter
Repayments of repurchase agreements - commercial mortgage loans PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $48.27M USD 1 Quarter
Borrowings on repurchase agreements - real estate securities ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $99.56M USD 1 Quarter
Borrowings on repurchase agreements - real estate securities ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $319.00M USD 1 Quarter
Repayments of repurchase agreements - real estate securities PaymentsForSecuritiesPurchasedUnderAgreementsToResell $88.09M USD 1 Quarter
Repayments of repurchase agreements - real estate securities PaymentsForSecuritiesPurchasedUnderAgreementsToResell $315.76M USD 1 Quarter
Increase in restricted cash related to financing activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-1.13M USD 1 Quarter
Increase in restricted cash related to financing activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities - USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $750.00K USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Distributions paid PaymentsOfDividends $4.70M USD 1 Quarter
Distributions paid PaymentsOfDividends $9.62M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $23.83M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $121.64M USD 1 Quarter
Net change in cash CashPeriodIncreaseDecrease $16.77M USD 1 Quarter
Net change in cash CashPeriodIncreaseDecrease $34.40M USD 1 Quarter
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $17.16M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $386.00K USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $17.16M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $386.00K USD Point-in-time
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Income taxes paid IncomeTaxesPaid $9.00K USD 1 Quarter
Interest paid InterestPaid $2.47M USD 1 Quarter
Interest paid InterestPaid $4.09M USD 1 Quarter
Distributions payable EscrowDepositDisbursementsRelatedToPropertyAcquisition1 $5.53M USD 1 Quarter
Distributions payable EscrowDepositDisbursementsRelatedToPropertyAcquisition1 $3.27M USD 1 Quarter
Common stock issued through distribution reinvestment plan CommonStockIssuedDividendReinvestmentInvestmentPlan $3.44M USD 1 Quarter
Common stock issued through distribution reinvestment plan CommonStockIssuedDividendReinvestmentInvestmentPlan $6.58M USD 1 Quarter
Receivable for common stock issued AmountReceivableforCommonStockIssued - USD 1 Quarter
Receivable for common stock issued AmountReceivableforCommonStockIssued $3.01M USD 1 Quarter
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $649.19M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $654.33M USD Point-in-time
Common stock repurchases StockRepurchasedDuringPeriodValue $8.00K USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $6.58M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $9.00K USD 1 Quarter
Net income NetIncomeLoss $4.63M USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Distributions declared Dividends $16.18M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-4.96M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $649.19M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $654.33M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $4.63M USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Unrealized (loss)/gain on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $141.00K USD 1 Quarter
Unrealized (loss)/gain on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-4.96M USD 1 Quarter
Comprehensive income attributable to Realty Finance Trust, Inc. ComprehensiveIncomeNetOfTax $4.46M USD 1 Quarter
Comprehensive income attributable to Realty Finance Trust, Inc. ComprehensiveIncomeNetOfTax $4.77M USD 1 Quarter

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

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