v3.26.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Income        
Interest income $ 84,218 $ 106,167 $ 273,654 $ 331,246
Less: Interest expense 59,845 76,492 192,336 217,298
Net interest income 24,373 29,675 81,318 113,948
Gain/(loss) on sales, including fee-based services, net 20,717 29,423 57,822 34,726
Mortgage servicing rights 8,654 19,745 19,313 19,745
Servicing revenue, net 12,276 3,606 32,484 3,606
Gain/(loss) on derivatives 984 (122) 3,318 (456)
Revenue from real estate owned 7,933 7,222 20,353 22,355
Total income 74,937 89,549 214,608 193,924
Expenses        
Compensation and benefits 27,532 34,434 71,325 34,434
Asset management and subordinated performance fee 5,865 6,082 17,888 18,174
Acquisition expenses 186 265 772 739
Administrative services expenses 2,912 3,455 7,274 10,687
Professional fees 4,742 9,334 21,268 20,609
Other expenses 11,367 14,052 34,602 35,557
Depreciation and amortization 2,238 3,432 7,641 6,193
Share-based compensation 1,208 2,237 6,068 6,799
Total expenses 56,050 73,291 166,838 133,192
Other income/(loss)        
(Provision)/benefit for credit losses (43,105) 569 (61,731) 3,954
Realized gain/(loss) on real estate securities, available for sale (888) 0 (888) 113
Realized gain/(loss) on extinguishment of debt 1,699 0 766 0
Gain/(loss) on other real estate investments (12,826) (2,116) (9,597) (1,664)
Income/(loss) from equity method investments 45 6 13,797 187
Change in net assets of consolidated VIE, CMBS trust 1,124 0 1,420 0
Total other income/(loss) (53,951) (1,541) (56,233) 2,590
Income/(loss) before taxes (35,064) 14,717 (8,463) 63,322
(Provision)/benefit for income tax 8,022 2,899 9,988 2,383
Net income/(loss) (27,042) 17,616 1,525 65,705
Net (income)/loss attributable to non-controlling interest 358 (302) (660) (1,132)
Net income/(loss) attributable to Franklin BSP Realty Trust, Inc. (26,684) 17,314 865 64,573
Less: Preferred stock dividends 5,915 6,749 17,747 20,245
Net income/(loss) applicable to common stock, basic (32,599) 10,565 (16,882) 44,328
Net income/(loss) applicable to common stock, diluted $ (32,599) $ 10,565 $ (16,882) $ 44,328
Basic earnings per share (in dollars per share) $ (0.41) $ 0.12 $ (0.23) $ 0.52
Diluted earnings per share (in dollars per share) $ (0.41) $ 0.12 $ (0.23) $ 0.51
Basic weighted average shares outstanding (in shares) 80,287,854 82,214,630 78,861,945 82,150,496
Diluted weighted average shares outstanding (in shares) 80,756,562 90,600,581 78,861,945 84,976,530