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

Franklin Street Properties Corp. (NYSE:FSP - Get Free Report) announced a quarterly dividend on Monday, April 8th, Wall Street Journal reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.01 per share on Thursday, May 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, April 18th.

Franklin Street Properties has decreased its dividend payment by an average of 51.9% per year over the last three years. Franklin Street Properties has a dividend payout ratio of -22.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Franklin Street Properties to earn $0.25 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 16.0%.

Franklin Street Properties Price Performance

Shares of NYSE:FSP traded up $0.02 during midday trading on Monday, reaching $2.12. The company's stock had a trading volume of 469,150 shares, compared to its average volume of 549,475. Franklin Street Properties has a fifty-two week low of $1.13 and a fifty-two week high of $2.72. The company has a market capitalization of $219.27 million, a P/E ratio of -4.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 1.26. The business's fifty day simple moving average is $2.29 and its 200-day simple moving average is $2.25.

Hedge Funds Weigh In On Franklin Street Properties

Institutional investors have recently modified their holdings of the business. State of Wyoming lifted its holdings in shares of Franklin Street Properties by 209.5% during the 4th quarter. State of Wyoming now owns 20,852 shares of the company's stock valued at $57,000 after purchasing an additional 14,114 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Franklin Street Properties in the 3rd quarter valued at approximately $55,000. Federated Hermes Inc. bought a new stake in Franklin Street Properties in the 1st quarter valued at approximately $55,000. Belvedere Trading LLC bought a new stake in Franklin Street Properties in the 4th quarter valued at approximately $51,000. Finally, Creative Planning bought a new stake in Franklin Street Properties in the 4th quarter valued at approximately $46,000. Institutional investors own 61.41% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Franklin Street Properties from a "sell" rating to a "hold" rating in a research report on Friday.

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.