Benefit Street Partners Realty Trust Increases Quarterly Distribution
Benefit Street Partners Realty Trust Inc., a publicly registered non-traded real estate investment trust focused on commercial mortgage loans, has increased its third quarter of 2021 dividend.
The board of Benefit Street Partners Realty Trust Inc., a publicly registered non-traded real estate investment trust focused on commercial mortgage loans, has declared a third quarter of 2021 dividend of $0.355 per share (equivalent to $1.42 per year), an increase of $0.08 per share compared to the second quarter of 2021.
The dividend will be paid around October 1, 2021 to stockholders of record as of September 30, 2021.
According to the company, the board also declared a third quarter dividend of $106.22 per share on the company’s Series A, Series C, and Series D convertible preferred stock, that will be paid around October 7, 2021 to holders of record as of September 30, 2021.
In July, Benefit Street Partners Realty Trust announced plans to merge with Capstead Mortgage Corporation (NYSE: CMO), a publicly traded residential mortgage REIT.
The combined company will be renamed Franklin BSP Realty Trust and is expected to have nearly $2 billion of pro forma equity. The REIT’s common stock will trade on the NYSE under the new ticker symbol “FBRT” upon closing, which is expected in the fourth quarter of 2021.
Benefit Street Partners Realty Trust, formerly known as Realty Finance Trust, was managed by AR Global until Benefit Street took over as the company’s new advisor at the end of September 2016. Benefit Street is a wholly-owned subsidiary of Franklin Templeton.
