Franklin Street Properties Corp. (FSP) To Go Ex-Dividend on January 24th

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Shareholders 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 2.19%. The ex-dividend date is Friday, January 24th.

Franklin Street Properties has decreased its dividend 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 Trading Down 1.6 %

NYSE FSP opened at $1.83 on Wednesday. Franklin Street Properties has a 12 month low of $1.47 and a 12 month high of $2.58. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $1.87 and a 200-day moving average of $1.76. The company has a market cap of $189.53 million, a PE ratio of -4.69 and a beta of 0.82.

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

Insider Activity

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

Wall Street Analyst Weigh In

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

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.