Franklin BSP Realty Trust (FBRT) Operating Expenses (2013 - 2026)

Franklin BSP Realty Trust's (FBRT) quarterly Operating Expenses came in at $57.7 million in Q1 2026, up 90.16% year-on-year from $30.3 million in Q1 2025, and up 8.5% quarter-over-quarter from $53.2 million in Q4 2025.

Franklin BSP Realty Trust (FBRT) Operating Expenses (2013 - 2026) Analysis & Trends

Franklin BSP Realty Trust's Operating Expenses history runs 14 years deep, the most recent figure standing at $57.7 million for Q1 2026.

  • On a quarterly basis, Operating Expenses rose 90.16% year-over-year to $57.7 million in Q1 2026; TTM through Mar 2026 was $213.7 million, a 122.26% increase from a year earlier, with the FY2025 full-year figure at $186.4 million, up 115.6% from the prior year.
  • Operating Expenses improved to $57.7 million in Q1 2026 per FBRT's latest filing, from $53.2 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $73.3 million in Q3 2025 and bottomed at $17.3 million in Q3 2022.
  • The 5-year median for Operating Expenses is $21.8 million (2024), against an average of $29.2 million.
  • Across the five-year window, Operating Expenses plunged 81.99% in 2022 and soared 236.51% in 2025, its largest moves.
  • Year by year, Operating Expenses stood at $18.5 million in 2022, then gained by 12.96% to $20.9 million in 2023, then increased by 26.18% to $26.3 million in 2024, then surged by 102.07% to $53.2 million in 2025, then gained by 8.5% to $57.7 million in 2026.
  • Per Business Quant, the three latest FBRT Operating Expenses figures stand at $57.7 million (Q1 2026), $53.2 million (Q4 2025), and $73.3 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn - 63.74 Mn
2 AGNC Investment 11.85 Bn 11.36 Bn - 34.00 Mn
3 Starwood Property Trust 5.99 Bn 5.94 Bn - 480.31 Mn
4 Rithm Capital 5.01 Bn 5.01 Bn - 1.24 Bn
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 110.77 Mn
6 Ellington Financial 1.63 Bn 1.51 Bn - 80.37 Mn
7 Dynex Capital 1.56 Bn 1.05 Bn - 21.25 Mn
8 Armour Residential REIT 1.42 Bn 1.34 Bn - 17.16 Mn
9 Two Harbors Investment 1.27 Bn 987.19 Mn - 49.45 Mn
10 Franklin BSP Realty Trust 609.84 Mn 677.57 Mn - 57.70 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 57.70 Mn
Dec 31, 2025 53.18 Mn
Sep 30, 2025 73.29 Mn
Jun 30, 2025 29.56 Mn
Mar 31, 2025 30.34 Mn
Dec 31, 2024 26.32 Mn
Sep 30, 2024 21.78 Mn
Jun 30, 2024 17.72 Mn
Mar 31, 2024 20.63 Mn
Dec 31, 2023 20.86 Mn
Sep 30, 2023 21.57 Mn
Jun 30, 2023 23.10 Mn
Mar 31, 2023 22.30 Mn
Dec 31, 2022 18.46 Mn
Sep 30, 2022 17.26 Mn
Jun 30, 2022 21.66 Mn
Mar 31, 2022 20.13 Mn
Dec 31, 2021 102.54 Mn
Sep 30, 2021 15.13 Mn
Jun 30, 2021 13.34 Mn