BTIG analyst Sarah Barcomb initiated coverage of Franklin BSP Realty Trust with a Buy rating and $13.50 price target, which represents 20% potential total return including dividends. The firm recognizes the potential for near-term Sunbelt multifamily supply headwinds, but contends that the stock provides investors with access to a more stable book of senior floating-rate loans relative to peers given its higher concentration to newer-vintage multifamily assets.
Published first on TheFly
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