Franklin Street Properties Corp. (FSP) to Issue Quarterly Dividend of $0.01 on February 13th

Franklin Street Properties Corp. (NYSE:FSP) declared a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Investors of record on Friday, January 24th will be paid a dividend of 0.01 per share on Thursday, February 13th. This represents a $0.04 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, January 24th.

Franklin Street Properties has decreased its dividend payment by an average of 51.9% annually over the last three years. Franklin Street Properties has a dividend payout ratio of -14.8% 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 $0.12 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 33.3%.

Franklin Street Properties Stock Performance

Shares of NYSE FSP opened at $1.80 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average price of $1.88 and a 200 day moving average price of $1.75. The stock has a market capitalization of $186.42 million, a PE ratio of -4.62 and a beta of 0.82. Franklin Street Properties has a 52 week low of $1.47 and a 52 week high of $2.62.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The firm had revenue of $29.68 million during the quarter. Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. During the same period in the prior year, the company posted ($0.44) EPS. Analysts predict that Franklin Street Properties will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

Insider Activity at Franklin Street Properties

In other Franklin Street Properties news, Director Bruce J. Schanzer purchased 110,589 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $1.87 per share, for a total transaction of $206,801.43. Following the completion of the transaction, the director now owns 3,405,463 shares in the company, valued at approximately $6,368,215.81. This represents a 3.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey B. Carter bought 18,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $2.12 per share, for a total transaction of $39,220.00. Following the transaction, the insider now owns 18,500 shares of the company’s stock, valued at approximately $39,220. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 172,400 shares of company stock worth $327,879 in the last ninety days. 6.20% of the stock is owned by company insiders.

Franklin Street Properties Company Profile

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.