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

Key Points

• Franklin Street Properties Corp. declared a quarterly dividend of $0.01 per share to be paid on November 6th, with a yield of 2.4% based on the current stock price.
• The company has a negative payout ratio of -12.5%, indicating it relies on its balance sheet to cover dividends, but expectations suggest future earnings will allow it to cover an annual dividend of $0.04.
• As of recent trading, Franklin Street Properties shares reached $1.65, with a market capitalization of $171.09 million and a PE ratio of -3.30, highlighting ongoing financial challenges.

Franklin Street Properties Corp. (NYSE:FSP - Get Free Report) declared a quarterly dividend on Friday, October 3rd, RTT News reports. Shareholders of record on Friday, October 17th will be paid a dividend of 0.01 per share on Thursday, November 6th. This represents a c) annualized dividend and a yield of 2.4%.

Franklin Street Properties has a 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

Shares of NYSE FSP traded up $0.03 during mid-day trading on Friday, reaching $1.65. 341,046 shares of the company were exchanged, compared to its average volume of 366,455. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $171.09 million, a PE ratio of -3.30 and a beta of 0.96. The company's 50 day moving average price is $1.64 and its 200 day moving average price is $1.67. Franklin Street Properties has a 52 week low of $1.36 and a 52 week high of $2.21.

Franklin Street Properties (NYSE:FSP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter. Franklin Street Properties had a negative net margin of 43.90% and a negative return on equity of 7.79%. Sell-side analysts forecast that Franklin Street Properties will post 0.12 earnings per share for the current fiscal year.

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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