Franklin Street Properties Corp. (FSP) to Issue Quarterly Dividend of $0.01 on August 11th

kopsource · Jul 16, 2022 21:11

Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) announced a quarterly dividend on Thursday, July 7th, Wall Street Journal reports. Investors of record on Tuesday, July 19th will be given a dividend of 0.01 per share by the real estate investment trust on Thursday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, July 18th.

Franklin Street Properties has increased its dividend payment by an average of 13.9% annually over the last three years. Franklin Street Properties has a dividend payout ratio of -44.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Franklin Street Properties to earn $0.48 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 8.3%.

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Franklin Street Properties Stock Performance

FSP stock opened at $3.69 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.89. The company has a market cap of $380.63 million, a P/E ratio of 7.69 and a beta of 0.87. Franklin Street Properties has a 52 week low of $3.54 and a 52 week high of $6.58.

Franklin Street Properties (NYSEAMERICAN:FSP – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Franklin Street Properties had a net margin of 22.85% and a return on equity of 6.78%. On average, sell-side analysts forecast that Franklin Street Properties will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

Separately, B. Riley dropped their price target on shares of Franklin Street Properties from $6.50 to $6.00 in a research report on Thursday, May 5th.

Insiders Place Their Bets

In other Franklin Street Properties news, Director Kenneth A. Hoxsie purchased 10,400 shares of the firm's stock in a transaction on Friday, May 6th. The shares were purchased at an average price of $4.79 per share, for a total transaction of $49,816.00. Following the completion of the purchase, the director now directly owns 110,168 shares of the company's stock, valued at $527,704.72. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Brian N. Hansen bought 42,500 shares of Franklin Street Properties stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of $3.93 per share, for a total transaction of $167,025.00. Following the purchase, the director now owns 275,000 shares of the company's stock, valued at $1,080,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth A. Hoxsie bought 10,400 shares of Franklin Street Properties stock in a transaction dated Friday, May 6th. The stock was purchased at an average price of $4.79 per share, for a total transaction of $49,816.00. Following the purchase, the director now directly owns 110,168 shares in the company, valued at approximately $527,704.72. The disclosure for this purchase can be found here. Insiders have acquired 102,900 shares of company stock worth $414,841 over the last 90 days. Corporate insiders own 4.35% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Franklin Street Properties by 0.3% in the first quarter. Vanguard Group Inc. now owns 15,668,286 shares of the real estate investment trust's stock valued at $92,443,000 after buying an additional 42,890 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Franklin Street Properties by 0.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,248,504 shares of the real estate investment trust's stock valued at $42,766,000 after buying an additional 39,361 shares during the last quarter. State Street Corp raised its holdings in shares of Franklin Street Properties by 12.1% in the first quarter. State Street Corp now owns 5,238,359 shares of the real estate investment trust's stock valued at $30,906,000 after buying an additional 567,314 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Franklin Street Properties by 18.4% in the first quarter. Renaissance Technologies LLC now owns 1,637,537 shares of the real estate investment trust's stock valued at $9,661,000 after buying an additional 254,500 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Franklin Street Properties by 19.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,795 shares of the real estate investment trust's stock valued at $7,161,000 after buying an additional 197,433 shares during the last quarter. 81.65% of the stock is owned by institutional investors.

Franklin Street Properties Company Profile

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Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.