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| Date | Value |
|---|---|
| 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 |