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Franklin Limited Duration Income Trust

AMEX:FTF
Snowflake Description

Second-rate dividend payer and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FTF
AMEX
$219M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Franklin Limited Duration Income Trust is a closed-ended fixed income mutual fund launched by Franklin Resources, Inc. The last earnings update was 43 days ago. More info.


Add to Portfolio Compare Print
  • Franklin Limited Duration Income Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
FTF Share Price and Events
7 Day Returns
-0.5%
AMEX:FTF
3%
US Capital Markets
0.8%
US Market
1 Year Returns
-13.5%
AMEX:FTF
-6.1%
US Capital Markets
5.9%
US Market
FTF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Franklin Limited Duration Income Trust (FTF) -0.5% 0.2% 1.8% -13.5% -16.6% -27%
US Capital Markets 3% 3.6% 5.5% -6.1% 57.3% 69.2%
US Market 0.8% 2.6% 10.6% 5.9% 37.7% 45.5%
1 Year Return vs Industry and Market
  • FTF underperformed the Capital Markets industry which returned -6.1% over the past year.
  • FTF underperformed the Market in United States of America which returned 5.9% over the past year.
Price Volatility
FTF
Industry
5yr Volatility vs Market

Value

 Is Franklin Limited Duration Income Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Franklin Limited Duration Income Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Franklin Limited Duration Income Trust.

AMEX:FTF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $12.60 * 4.2%
$0.53
Book Value of Equity per Share Median Book Value from the past 5 years. $12.60
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:FTF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.727 (1 + (1- 21%) (41.17%))
0.976
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.976 * 5.96%)
8.55%

Discounted Cash Flow Calculation for AMEX:FTF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Franklin Limited Duration Income Trust is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AMEX:FTF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.2% – 8.55%) * $12.60)
$-0.55
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.55 / (8.55% - 2.73%)
$-9.47
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $12.60 + $-9.47
$3.13
AMEX:FTF Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.13
Current discount Discount to share price of $9.67
= -1 x ($9.67 - $3.13) / $3.13
-208.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Franklin Limited Duration Income Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Franklin Limited Duration Income Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Franklin Limited Duration Income Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:FTF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.31
AMEX:FTF Share Price ** AMEX (2019-04-18) in USD $9.67
United States of America Capital Markets Industry PE Ratio Median Figure of 88 Publicly-Listed Capital Markets Companies 30.03x
United States of America Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Franklin Limited Duration Income Trust.

AMEX:FTF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:FTF Share Price ÷ EPS (both in USD)

= 9.67 ÷ -0.31

-30.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Franklin Limited Duration Income Trust is loss making, we can't compare its value to the US Capital Markets industry average.
  • Franklin Limited Duration Income Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Franklin Limited Duration Income Trust's expected growth come at a high price?
Raw Data
AMEX:FTF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -30.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.32x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Franklin Limited Duration Income Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Franklin Limited Duration Income Trust's assets?
Raw Data
AMEX:FTF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $10.11
AMEX:FTF Share Price * AMEX (2019-04-18) in USD $9.67
United States of America Capital Markets Industry PB Ratio Median Figure of 166 Publicly-Listed Capital Markets Companies 6.42x
United States of America Market PB Ratio Median Figure of 5,172 Publicly-Listed Companies 1.93x
AMEX:FTF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:FTF Share Price ÷ Book Value per Share (both in USD)

= 9.67 ÷ 10.11

0.96x

* Primary Listing of Franklin Limited Duration Income Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Franklin Limited Duration Income Trust is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Franklin Limited Duration Income Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Franklin Limited Duration Income Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Franklin Limited Duration Income Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Franklin Limited Duration Income Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Franklin Limited Duration Income Trust expected to grow at an attractive rate?
  • Unable to compare Franklin Limited Duration Income Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Franklin Limited Duration Income Trust's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Franklin Limited Duration Income Trust's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AMEX:FTF Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.8%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:FTF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:FTF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 18 -32 -9
2017-12-31 18 11
2017-09-30 20 16
2017-06-30 20 27
2017-03-31 21 38
2016-12-31 22 32
2016-09-30 22 27
2016-06-30 23 3
2016-03-31 23 -20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Franklin Limited Duration Income Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Franklin Limited Duration Income Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:FTF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Franklin Limited Duration Income Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:FTF Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.31
2017-12-31
2017-09-30 0.72
2017-06-30 1.20
2017-03-31 1.68
2016-12-31 1.43
2016-09-30 1.00
2016-06-30 0.13
2016-03-31 -0.74

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Franklin Limited Duration Income Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Franklin Limited Duration Income Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Franklin Limited Duration Income Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Franklin Limited Duration Income Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Franklin Limited Duration Income Trust's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Franklin Limited Duration Income Trust does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Franklin Limited Duration Income Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Franklin Limited Duration Income Trust's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Franklin Limited Duration Income Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Franklin Limited Duration Income Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:FTF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 18.46 -9.44 3.56
2017-12-31 18.11 11.05 3.55
2017-09-30 19.51 16.17 4.27
2017-06-30 20.27 27.02 4.40
2017-03-31 21.03 37.87 4.52
2016-12-31 21.52 32.31 4.20
2016-09-30 22.00 26.76 3.87
2016-06-30 22.68 3.39 3.96
2016-03-31 23.37 -19.98 4.05
2015-12-31 23.63 -15.98 4.15
2015-09-30 23.90 -11.98 4.25
2015-06-30 23.88 -1.56 4.28
2015-03-31 23.85 8.86 4.31
2014-12-31 24.29 15.95 4.30
2014-09-30 24.73 23.05 4.28
2014-06-30 25.29 24.13 4.28
2014-03-31 25.85 25.21 4.27
2013-12-31 26.37 25.22 4.28
2013-09-30 26.88 25.22 4.29
2013-06-30 27.66 32.28 4.27
2013-03-31 28.44 39.34 4.25
2012-12-31 28.63 48.21 4.24
2012-09-30 28.81 57.09 4.23
2012-06-30 28.80 39.60 4.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Franklin Limited Duration Income Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Franklin Limited Duration Income Trust has efficiently used its assets last year compared to the US Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Franklin Limited Duration Income Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Franklin Limited Duration Income Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Franklin Limited Duration Income Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Franklin Limited Duration Income Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Franklin Limited Duration Income Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Franklin Limited Duration Income Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Franklin Limited Duration Income Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Franklin Limited Duration Income Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Franklin Limited Duration Income Trust Company Filings, last reported 3 months ago.

AMEX:FTF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 304.80 90.00 2.02
2017-12-31 368.56 0.00 0.63
2017-09-30 374.88 0.00 0.53
2017-06-30 374.88 0.00 0.53
2017-03-31 381.89 0.00 1.81
2016-12-31 381.89 0.00 1.81
2016-09-30 440.86 0.00 0.95
2016-06-30 440.86 0.00 0.95
2016-03-31 422.14 0.00 1.00
2015-12-31 422.14 0.00 1.00
2015-09-30 434.55 0.00 1.22
2015-06-30 434.55 0.00 1.22
2015-03-31 462.09 0.00 1.76
2014-12-31 462.09 0.00 1.76
2014-09-30 468.11 0.00 0.99
2014-06-30 468.11 0.00 0.99
2014-03-31 475.40 0.00 2.96
2013-12-31 475.40 0.00 2.96
2013-09-30 467.37 0.00 1.33
2013-06-30 467.37 0.00 1.33
2013-03-31 473.65 0.06 2.67
2012-12-31 473.65 0.06 2.67
2012-09-30 466.66 0.00 1.40
2012-06-30 466.66 0.00 1.40
  • Franklin Limited Duration Income Trust's level of debt (29.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 29.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Franklin Limited Duration Income Trust is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Franklin Limited Duration Income Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Franklin Limited Duration Income Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Franklin Limited Duration Income Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
11.6%
Current annual income from Franklin Limited Duration Income Trust dividends.
If you bought $2,000 of Franklin Limited Duration Income Trust shares you are expected to receive $232 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Franklin Limited Duration Income Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Franklin Limited Duration Income Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:FTF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:FTF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-11 1.122 11.538
2019-02-15 1.136 11.792
2019-01-17 1.028 10.838
2018-12-20 1.050 11.432
2018-11-16 1.181 12.790
2018-10-18 1.194 12.727
2018-09-18 1.212 11.982
2018-08-13 1.218 10.752
2018-07-19 1.227 10.931
2018-06-15 1.240 11.270
2018-04-18 1.254 11.370
2018-03-15 1.213 10.839
2018-02-15 1.236 10.979
2018-01-17 1.241 10.638
2017-12-15 1.250 10.606
2017-11-16 1.262 10.790
2017-10-19 1.268 10.635
2017-09-18 1.274 10.627
2017-08-15 1.280 10.800
2017-07-17 1.288 10.850
2017-06-15 1.292 10.842
2017-06-09 1.295 10.808
2017-04-19 1.295 10.817
2017-03-20 1.306 10.904
2017-02-16 1.309 10.836
2017-01-19 1.303 10.698
2016-12-20 1.298 10.771
2016-11-17 0.744 6.255
2016-10-21 0.744 6.199
2016-09-19 0.744 6.198
2016-08-19 0.744 6.207
2016-06-20 0.744 6.341
2016-06-01 0.744 6.333
2015-12-01 0.744 6.777
2015-03-19 0.744 6.412
2015-02-18 0.744 6.079
2014-12-22 0.744 6.138
2014-11-17 0.744 6.093
2014-10-21 0.744 6.006
2014-09-16 0.744 6.026
2014-08-15 0.744 5.835
2014-07-17 0.744 5.805
2014-06-20 0.744 5.718
2014-04-17 0.876 6.641
2014-03-17 0.876 6.700
2014-02-13 0.876 6.683
2014-01-22 0.876 6.711
2013-12-20 0.876 6.701
2013-11-19 0.876 6.815
2013-10-21 0.876 6.741
2013-09-20 0.876 6.757
2013-08-19 0.876 6.917
2013-07-19 0.876 6.861
2013-06-14 0.876 6.746
2013-05-21 0.876 6.396
2013-04-18 0.876 6.072
2013-03-18 0.876 5.965
2013-02-14 0.996 6.667
2013-01-17 0.996 6.579
2012-12-20 0.996 6.850
2012-10-18 1.016 7.169
2012-09-17 1.016 6.950
2012-08-17 1.016 6.920
2012-07-19 1.016 7.028
2012-06-15 1.016 7.231
2012-05-17 1.016 7.401
2012-04-19 1.016 7.235
2012-03-20 1.016 7.362
2012-02-16 1.016 7.460
2012-01-19 1.016 7.595
2011-12-20 1.016 7.802
2011-11-18 1.076 8.387
2011-10-19 1.076 8.498
2011-09-19 1.076 8.496
2011-08-17 1.076 8.290
2011-07-18 1.076 7.850
2011-06-20 1.076 7.462
2011-05-19 1.076 7.667
2011-03-18 1.076 8.046
2011-02-18 1.076 8.174
2011-01-20 1.076 8.163
2010-12-21 1.076 8.202
2010-11-18 0.996 7.591
2010-10-19 0.996 7.431
2010-09-17 0.996 7.444
2010-08-20 0.996 7.554
2010-07-19 0.912 7.112
2010-06-17 0.912 7.374
2010-05-17 0.912 7.444
2010-04-19 0.912 6.791
2010-03-18 0.912 6.838
2010-02-17 0.912 7.162
2010-01-19 0.912 7.528
2009-12-21 0.912 7.566
2009-11-20 0.912 7.915
2009-10-20 0.912 8.059
2009-09-17 0.912 7.800
2009-08-20 0.912 8.013
2009-07-20 0.912 8.264
2009-06-19 0.912 8.736
2009-05-19 0.912 8.994
2009-04-20 0.912 9.402

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Franklin Limited Duration Income Trust's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Franklin Limited Duration Income Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Franklin Limited Duration Income Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Franklin Limited Duration Income Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Franklin Limited Duration Income Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Franklin Limited Duration Income Trust has no CEO, or we have no data on them.
Management Team

Rupert Johnson

TITLE
Chairman and Senior Vice President
AGE
78
TENURE
16.3 yrs

Gaston Gardey

TITLE
Chief Financial Officer
AGE
51

Laura Fergerson

TITLE
Treasurer
AGE
56

Karen Skidmore

TITLE
Vice President and Secretary
AGE
66

Greg Johnson

TITLE
Vice President and Trustee
AGE
57
TENURE
16.3 yrs

Craig Tyle

TITLE
Vice President
AGE
58

Steven Gray

TITLE
Vice President
AGE
63

Robert Rosselot

TITLE
Vice President
AGE
58

Aliya Gordon

TITLE
Vice President
AGE
45

Lori Weber

TITLE
Vice President
AGE
54
Board of Directors Tenure

Average tenure and age of the Franklin Limited Duration Income Trust board of directors in years:

12
Average Tenure
75.5
Average Age
  • The average tenure for the Franklin Limited Duration Income Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Greg Johnson

TITLE
Vice President and Trustee
AGE
57
TENURE
6.3 yrs

Harris Ashton

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
86
TENURE
16.3 yrs

Rupert Johnson

TITLE
Chairman and Senior Vice President
AGE
78
TENURE
6.3 yrs

Ede Holiday

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
66
TENURE
12.3 yrs

Frank Olson

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
86
TENURE
13.8 yrs

Larry Thompson

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
73
TENURE
12 yrs

Sam Ginn

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
81
TENURE
12 yrs

Mike Luttig

TITLE
Independent Trustee
COMPENSATION
$3K
AGE
64
TENURE
9.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Franklin Limited Duration Income Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Franklin Limited Duration Income Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Franklin Limited Duration Income Trust is a closed-ended fixed income mutual fund launched by Franklin Resources, Inc. The fund is managed by Franklin Advisers, Inc. It invests in the fixed income markets of the United States. The fund primarily invests in mortgage-backed securities, asset-backed securities, floating rate bank loans, and high yield corporate bonds. It employs fundamental analysis with a combination of top-down and bottom-up security selection process to create its portfolio. The fund was formerly known as Franklin Templeton Limited Duration Income Trust. Franklin Limited Duration Income Trust was formed on August 27, 2003 and is domiciled in the United States.

Details
Name: Franklin Limited Duration Income Trust
FTF
Exchange: AMEX
Founded: 2003
$218,581,898
22,604,126
Website: http://www.franklintempleton.com/investor/products/mutual-funds/overview?FundID=3637
Address: Franklin Limited Duration Income Trust
One Franklin Parkway,
Suite 2100,
San Mateo,
California, 94403-1906,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX FTF Common Shares NYSE MKT LLC US USD 27. Aug 2003
Number of employees
Current staff
Staff numbers
0
Franklin Limited Duration Income Trust employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 23:50
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/03/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.