Franklin BSP Realty Trust initiated with an Outperform at Raymond James

Raymond James initiated coverage of Franklin BSP Realty Trust with an Outperform rating and $13.50 price target. Raymond James expects 1H earnings to benefit from LIBOR increases year-to-date, the analyst tells investors in a research note. The firm notes "attractive" portfolio characteristics, such as high mix of multifamily loans, minimal office exposure, benefits of increasing rates, and high mix of non-mark-to-market financing.