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   <title>Form  SCHEDULE 13G  Franklin BSP Realty Trus               Filed by: VANGUARD CAPITAL MANAGEMENT LLC</title>
   <link>http://www.streetinsider.com/SEC+Filings/Form++SCHEDULE+13G++Franklin+BSP+Realty+Trus+++++++++++++++Filed+by%3A+VANGUARD+CAPITAL+MANAGEMENT+LLC/26397537.html</link>
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   <pubDate>Wed, 29 Apr 2026 18:38:00 -0400</pubDate>
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   <title>Form  SCHEDULE 13G  Franklin BSP Realty Trus               Filed by: VANGUARD CAPITAL MANAGEMENT LLC</title>
   <link>http://www.streetinsider.com/SEC+Filings/Form++SCHEDULE+13G++Franklin+BSP+Realty+Trus+++++++++++++++Filed+by%3A+VANGUARD+CAPITAL+MANAGEMENT+LLC/26397537.html</link>
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   <title>Form  SCHEDULE 13G  Franklin BSP Realty Trus               Filed by: VANGUARD CAPITAL MANAGEMENT LLC</title>
   <link>http://www.streetinsider.com/SEC+Filings/Form++SCHEDULE+13G++Franklin+BSP+Realty+Trus+++++++++++++++Filed+by%3A+VANGUARD+CAPITAL+MANAGEMENT+LLC/26397537.html</link>
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   <pubDate>Wed, 29 Apr 2026 18:38:00 -0400</pubDate>
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   <title>Form  8-K        Franklin BSP Realty Trus  For: Apr 29</title>
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   <pubDate>Wed, 29 Apr 2026 16:27:00 -0400</pubDate>
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   <title>Form  8-K        Franklin BSP Realty Trus  For: Apr 29</title>
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   <title>Form  8-K        Franklin BSP Realty Trus  For: Apr 29</title>
   <link>http://www.streetinsider.com/SEC+Filings/Form++8-K++++++++Franklin+BSP+Realty+Trus++For%3A+Apr+29/26395429.html</link>
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   <title>Form  10-Q       Franklin BSP Realty Trus  For: Mar 31</title>
   <link>http://www.streetinsider.com/SEC+Filings/Form++10-Q+++++++Franklin+BSP+Realty+Trus++For%3A+Mar+31/26395352.html</link>
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   <title>Form  10-Q       Franklin BSP Realty Trus  For: Mar 31</title>
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   <title>Form  10-Q       Franklin BSP Realty Trus  For: Mar 31</title>
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   <title>Franklin BSP Realty Trust, Inc. (FBRT) Misses Q1 EPS by 19c</title>
   <link>http://www.streetinsider.com/Earnings/Franklin+BSP+Realty+Trust%2C+Inc.+%28FBRT%29+Misses+Q1+EPS+by+19c/26395269.html</link>
   <description>&lt;p&gt;Franklin BSP Realty Trust, Inc. (NYSE: FBRT) reported Q1 EPS of $0.07, $0.19 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $23.56 million versus the consensus estimate of $78.12 million.&lt;/p&gt;&lt;p&gt;For earnings history and earnings-related data on Franklin BSP Realty Trust, Inc. (FBRT) &lt;a href=&quot;http://www.streetinsider.com/ec_earnings.php?q=FBRT&quot;&gt;click here&lt;/a&gt;.&lt;/p&gt;</description>
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   <pubDate>Wed, 29 Apr 2026 16:20:55 -0400</pubDate>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
   <guid isPermaLink="true">http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</guid>
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  <item>
   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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  <item>
   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Press+Releases/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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  <item>
   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
&lt;ul class=&quot;bwlistcircle&quot;&gt;
&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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   <title>Franklin BSP Realty Trust, Inc. Announces First Quarter 2026 Results</title>
   <link>http://www.streetinsider.com/Business+Wire/Franklin+BSP+Realty+Trust%2C+Inc.+Announces+First+Quarter+2026+Results/26394989.html</link>
   <description>
&lt;p&gt;    NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced financial results for the quarter ended March 31, 2026.

&lt;/p&gt;&lt;p class=&quot;bwalignc&quot;&gt;
&lt;b&gt;First Quarter 2026 Summary&lt;/b&gt;

&lt;/p&gt;&lt;ul class=&quot;bwlistdisc&quot;&gt;
&lt;li&gt;
GAAP net income of $12.3 million or $0.07 per diluted common share

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings (a non-GAAP financial measure) of $13.5 million, or $0.09 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Distributable Earnings before realized losses (a non-GAAP financial measure) of $25.9 million, or $0.22 per diluted common share on a fully converted basis(1)

&lt;/li&gt;
&lt;li&gt;
Core portfolio:
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&lt;li&gt;
Principal balance increased by $173.8 million to $4.6 billion across 177 loans, averaging $26.0</description>
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