Franklin Street Properties Corp. Plans Quarterly Dividend of $0.01 (NYSE:FSP)

Franklin Street Properties Corp. (NYSE:FSP - Get Free Report) declared a quarterly dividend on Friday, July 11th, RTT News reports. Shareholders of record on Friday, July 25th will be paid a dividend of 0.01 per share on Thursday, August 14th. This represents a $0.04 annualized dividend and a yield of 2.35%.

Franklin Street Properties has a dividend payout ratio of -12.5% 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 $0.11 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 36.4%.

Franklin Street Properties Price Performance

NYSE:FSP traded down $0.01 during trading hours on Friday, hitting $1.70. 639,583 shares of the stock traded hands, compared to its average volume of 404,154. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. Franklin Street Properties has a 1 year low of $1.36 and a 1 year high of $2.21. The company has a market cap of $176.06 million, a price-to-earnings ratio of -3.40 and a beta of 0.87. The stock has a 50 day moving average price of $1.72 and a 200 day moving average price of $1.75.

Institutional Trading of Franklin Street Properties

A hedge fund recently bought a new stake in Franklin Street Properties stock. Jane Street Group LLC bought a new position in Franklin Street Properties Corp. (NYSE:FSP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,373 shares of the company's stock, valued at approximately $33,000. Institutional investors and hedge funds own 61.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Franklin Street Properties from a "hold" rating to a "sell" rating in a report on Thursday, May 15th.

About Franklin Street Properties

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.

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