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

Franklin Street Properties Corp. (NYSE:FSPGet Free Report) 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 dividend on an annualized basis and a dividend yield of 2.19%. 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. 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 Price Performance

Franklin Street Properties stock opened at $1.83 on Wednesday. The stock has a fifty day moving average of $1.87 and a 200-day moving average of $1.76. The stock has a market capitalization of $189.53 million, a P/E ratio of -4.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Franklin Street Properties has a 52 week low of $1.47 and a 52 week high of $2.58.

Franklin Street Properties (NYSE:FSPGet Free Report) last posted its 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). Franklin Street Properties had a negative return on equity of 5.88% and a negative net margin of 32.11%. The company had revenue of $29.68 million for the quarter. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. On average, sell-side analysts expect 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 shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

View Our Latest Report on Franklin Street Properties

Insider Buying and Selling at Franklin Street Properties

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

Franklin Street Properties Company Profile

(Get Free Report)

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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Dividend History for Franklin Street Properties (NYSE:FSP)

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