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10-Q Filing

FRANKLIN BSP REALTY TRUST, INC. CIK: 1562528 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001562528-17-000011
Period End Date 20170331
Filing Date 20170512
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance bsprt-20170331.xml
Balance Sheet 77 line items
Line Item Tag Value Unit Period
Allowance for loan losses LoansAndLeasesReceivableAllowance $2.18M USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $1.05M USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $888.00K USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $2.79M 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
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 50.00M shares 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
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
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $118.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Common stock, par value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $148.37M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $5.11M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 950.00M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $5.02M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 950.00M shares Point-in-time
Commercial mortgage loans, held for investment, net of allowance of $2,793 and $2,188 LoansReceivableNet $1.01B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 31.67M shares Point-in-time
Commercial mortgage loans, held for investment, net of allowance of $2,793 and $2,188 LoansReceivableNet $1.05B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 31.88M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 31.88M shares Point-in-time
Commercial mortgage loans, held-for-sale, measured at fair value LoansHeldForSaleFairValueDisclosure $21.18M USD Point-in-time
Commercial mortgage loans, held-for-sale, measured at fair value LoansHeldForSaleFairValueDisclosure $53.30M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 31.67M shares Point-in-time
Real estate securities, available for sale, at fair value AvailableForSaleSecurities $25.73M USD Point-in-time
Real estate securities, available for sale, at fair value AvailableForSaleSecurities $49.05M USD Point-in-time
Interest receivable InterestReceivable $5.80M USD Point-in-time
Interest receivable InterestReceivable $5.96M USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $897.00K USD Point-in-time
Receivable for loan repayment NotesReceivableNet $401.00K USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $997.00K USD Point-in-time
Receivable for loan repayment NotesReceivableNet $6.40M USD Point-in-time
Accrued interest receivable InterestReceivable $5.80M USD Point-in-time
Accrued interest receivable InterestReceivable $5.96M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $1.92M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $1.69M USD Point-in-time
Total assets Assets $1.26B USD Point-in-time
Total assets Assets $1.25B USD Point-in-time
Collateralized loan obligations SecuredDebt $229.09M USD Point-in-time
Collateralized loan obligations SecuredDebt $278.45M USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $897.00K USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $997.00K USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.53M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.56M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.59M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $1.46M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $1.17M USD Point-in-time
Due to affiliates DueToAffiliateCurrentAndNoncurrent $4.06M USD Point-in-time
Due to affiliates DueToAffiliateCurrentAndNoncurrent $3.74M USD Point-in-time
Total liabilities Liabilities $614.48M USD Point-in-time
Total liabilities Liabilities $633.97M 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, 2017 and December 31, 2016 PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of March 31, 2017 and December 31, 2016 PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value, 949,999,000 shares authorized, 31,673,924 and 31,884,631 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively CommonStockValue $319.00K USD Point-in-time
Common stock, $0.01 par value, 949,999,000 shares authorized, 31,673,924 and 31,884,631 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively CommonStockValue $317.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $700.79M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $704.50M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $888.00K USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-500.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-80.69M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-70.67M USD Point-in-time
Total stockholders' equity StockholdersEquity $633.65M USD Point-in-time
Total stockholders' equity StockholdersEquity $621.31M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.26B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.25B USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $2.18M USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $1.05M USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $888.00K USD Point-in-time
Allowance for loan losses LoansAndLeasesReceivableAllowance $2.79M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Interest income InterestAndDividendIncomeOperating $18.88M USD 1 Quarter
Interest income InterestAndDividendIncomeOperating $20.29M USD 1 Quarter
Less: Interest expense InterestExpense $4.77M USD 1 Quarter
Less: Interest expense InterestExpense $5.43M USD 1 Quarter
Net interest income Revenues $15.52M USD 1 Quarter
Net interest income Revenues $13.45M USD 1 Quarter
Asset management and subordinated performance fee AssetManagementCosts $2.31M USD 1 Quarter
Asset management and subordinated performance fee AssetManagementCosts $3.01M USD 1 Quarter
Acquisition fees and acquisition expenses AcquisitionFeesandExpensesRelatedParty $157.00K USD 1 Quarter
Acquisition fees and acquisition expenses AcquisitionFeesandExpensesRelatedParty $624.00K USD 1 Quarter
Administrative services expenses GeneralAndAdministrativeExpense $816.00K USD 1 Quarter
Administrative services expenses GeneralAndAdministrativeExpense $855.00K USD 1 Quarter
Professional fees ProfessionalFees $767.00K USD 1 Quarter
Professional fees ProfessionalFees $1.26M USD 1 Quarter
Other expenses GeneralInsuranceExpense $606.00K USD 1 Quarter
Other expenses GeneralInsuranceExpense $694.00K USD 1 Quarter
Total Operating Expenses OperatingExpenses $5.16M USD 1 Quarter
Total Operating Expenses OperatingExpenses $5.94M USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $612.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $165.00K USD 1 Quarter
Realized loss on loans held for sale GainLossOnSalesOfLoansNet $-247.00K USD 1 Quarter
Realized loss on loans held for sale GainLossOnSalesOfLoansNet - USD 1 Quarter
Realized loss on sale of real estate securities GainLossOnSaleOfSecuritiesNet - USD 1 Quarter
Realized loss on sale of real estate securities GainLossOnSaleOfSecuritiesNet $-29.00K USD 1 Quarter
Unrealized losses on loans held-for-sale FairValueOptionChangesInFairValueGainLoss1 - USD 1 Quarter
Unrealized losses on loans held-for-sale FairValueOptionChangesInFairValueGainLoss1 $-1.35M USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Net income NetIncomeLoss $6.05M 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 $0.19 USD 1 Quarter
Diluted net income per share (in dollars per share) EarningsPerShareDiluted $0.30 USD 1 Quarter
Diluted net income per share (in dollars per share) EarningsPerShareDiluted $0.19 USD 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 31.74M shares 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 31.55M shares 1 Quarter
Diluted weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 31.75M shares 1 Quarter
Diluted weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 31.56M shares 1 Quarter
Cash Flow Statement 79 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $9.42M USD 1 Quarter
Net income NetIncomeLoss $6.05M USD 1 Quarter
Premium amortization and (discount accretion), net AccretionAmortizationOfDiscountsAndPremiumsInvestments $634.00K USD 1 Quarter
Premium amortization and (discount accretion), net AccretionAmortizationOfDiscountsAndPremiumsInvestments $575.00K USD 1 Quarter
Accretion of deferred commitment fees AmortizationOfDeferredLoanOriginationFeesNet $538.00K USD 1 Quarter
Accretion of deferred commitment fees AmortizationOfDeferredLoanOriginationFeesNet $382.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $694.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $541.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $9.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $15.00K USD 1 Quarter
Change in unrealized losses on loans held for sale GainLossOnSaleOfLoansAndLeases $-1.60M USD 1 Quarter
Change in unrealized losses on loans held for sale GainLossOnSaleOfLoansAndLeases - USD 1 Quarter
Change in unrealized losses on real estate securities GainLossOnSaleOfSecuritiesNet - USD 1 Quarter
Change in unrealized losses on real estate securities GainLossOnSaleOfSecuritiesNet $-29.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $612.00K USD 1 Quarter
Loan loss provision ProvisionForLoanAndLeaseLosses $165.00K USD 1 Quarter
Accrued interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-582.00K USD 1 Quarter
Accrued interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-688.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $35.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $41.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInInterestPayableNet $155.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInInterestPayableNet $291.00K USD 1 Quarter
Due to affiliates IncreaseDecreaseInDueToAffiliates $76.00K USD 1 Quarter
Due to affiliates IncreaseDecreaseInDueToAffiliates $-323.00K USD 1 Quarter
Interest payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $100.00K USD 1 Quarter
Interest payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $132.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $8.54M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $10.09M USD 1 Quarter
Origination and purchase of commercial mortgage loans PaymentsToAcquireLoansAndLeasesHeldForInvestment $9.70M USD 1 Quarter
Origination and purchase of commercial mortgage loans PaymentsToAcquireLoansAndLeasesHeldForInvestment $93.88M USD 1 Quarter
Proceeds from sale of commercial mortgage loans ProceedsFromSaleOfAvailableForSaleSecuritiesDebt - USD 1 Quarter
Proceeds from sale of commercial mortgage loans ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $24.68M USD 1 Quarter
Proceeds from sale of commercial mortgage loans ProceedsFromSaleOfLoansReceivable - USD 1 Quarter
Proceeds from sale of commercial mortgage loans ProceedsFromSaleOfLoansReceivable $11.79M USD 1 Quarter
Principal repayments received on commercial mortgage loans ProceedsFromCollectionOfLoansReceivable $80.08M USD 1 Quarter
Principal repayments received on commercial mortgage loans ProceedsFromCollectionOfLoansReceivable $9.25M USD 1 Quarter
Principal repayments received on real estate securities ProceedsFromSecuritizationsOfConsumerLoans $928.00K USD 1 Quarter
Principal repayments received on real estate securities ProceedsFromSecuritizationsOfConsumerLoans - USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $22.67M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $484.00K USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $9.46M USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $6.00M USD 1 Quarter
Repayments of collateralized loan obligations RepaymentsOfSecuredDebt $49.46M USD 1 Quarter
Repayments of collateralized loan obligations RepaymentsOfSecuredDebt - USD 1 Quarter
Borrowings on repurchase agreements - commercial mortgage loans ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $85.61M USD 1 Quarter
Borrowings on repurchase agreements - commercial mortgage loans ProceedsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $89.08M USD 1 Quarter
Repayments of repurchase agreements - commercial mortgage loans PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $5.80M USD 1 Quarter
Repayments of repurchase agreements - commercial mortgage loans PaymentsfromSecuritiesPurchasedunderAgreementstoResellLoansReceivable $48.27M USD 1 Quarter
Borrowings on repurchase agreements - real estate securities ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $319.00M USD 1 Quarter
Borrowings on repurchase agreements - real estate securities ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $196.50M USD 1 Quarter
Repayments of repurchase agreements - real estate securities PaymentsForSecuritiesPurchasedUnderAgreementsToResell $315.76M USD 1 Quarter
Repayments of repurchase agreements - real estate securities PaymentsForSecuritiesPurchasedUnderAgreementsToResell $210.97M USD 1 Quarter
Increase in restricted cash related to financing activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-86.00K USD 1 Quarter
Increase in restricted cash related to financing activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-1.13M USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $334.00K USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Distributions paid PaymentsOfDividends $10.37M USD 1 Quarter
Distributions paid PaymentsOfDividends $9.62M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-881.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $23.83M USD 1 Quarter
Net change in cash and cash equivalents CashPeriodIncreaseDecrease $30.32M USD 1 Quarter
Net change in cash and cash equivalents CashPeriodIncreaseDecrease $34.40M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $118.05M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $148.37M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $118.05M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $14.81M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $49.21M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $148.37M USD Point-in-time
Interest paid InterestPaid $4.09M USD 1 Quarter
Interest paid InterestPaid $4.63M USD 1 Quarter
Distributions payable DividendsPayableCurrentAndNoncurrent $5.53M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.56M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $5.59M USD Point-in-time
Common stock issued through distribution reinvestment plan CommonStockIssuedDividendReinvestmentInvestmentPlan $6.58M USD 1 Quarter
Common stock issued through distribution reinvestment plan CommonStockIssuedDividendReinvestmentInvestmentPlan $5.73M USD 1 Quarter
Loans transferred to commercial real estate loans, held-for-sale, transferred at fair value TransferOfPortfolioLoansAndLeasesToHeldForSale1 $45.51M USD 1 Quarter
Loans transferred to commercial real estate loans, held-for-sale, transferred at fair value TransferOfPortfolioLoansAndLeasesToHeldForSale1 - USD 1 Quarter
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $633.65M USD Point-in-time
Balance StockholdersEquity $621.31M USD Point-in-time
Common stock repurchases StockRepurchasedDuringPeriodValue $9.46M USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $5.73M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $15.00K USD 1 Quarter
Net income NetIncomeLoss $9.42M USD 1 Quarter
Net income NetIncomeLoss $6.05M USD 1 Quarter
Distributions declared Dividends $16.07M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $1.39M USD 1 Quarter
Balance StockholdersEquity $633.65M USD Point-in-time
Balance StockholdersEquity $621.31M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $9.42M USD 1 Quarter
Net income NetIncomeLoss $6.05M USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-4.96M USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $1.39M USD 1 Quarter
Comprehensive income attributable to Benefit Street Partners Realty Trust, Inc. ComprehensiveIncomeNetOfTax $7.44M USD 1 Quarter
Comprehensive income attributable to Benefit Street Partners Realty Trust, Inc. ComprehensiveIncomeNetOfTax $4.46M USD 1 Quarter

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

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