Franklin Street Properties Corp. (AMEX:FSP) issued an update on its Q earnings guidance on Tuesday morning. The company provided EPS guidance of ~$0.25 for the period. Franklin Street Properties Corp. also updated its FY17 guidance to ~$1.04 EPS.
Franklin Street Properties Corp. (AMEX:FSP) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $66.31 million. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 20th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 7.60%. The ex-dividend date is Thursday, October 19th. Franklin Street Properties Corp.’s payout ratio is currently 330.43%.
FSP has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on Franklin Street Properties Corp. in a research note on Friday, September 8th. They issued a buy rating on the stock. ValuEngine upgraded Franklin Street Properties Corp. from a hold rating to a buy rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Franklin Street Properties Corp. from a sell rating to a hold rating in a research note on Tuesday, October 17th. Stifel Nicolaus reiterated a hold rating and issued a $10.00 price objective on shares of Franklin Street Properties Corp. in a research note on Thursday, September 21st. Finally, FBR & Co reiterated an outperform rating and issued a $13.00 price objective on shares of Franklin Street Properties Corp. in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $11.67.
In other Franklin Street Properties Corp. news, Director Kenneth A. Hoxsie purchased 3,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $9.81 per share, for a total transaction of $29,430.00. Following the completion of the purchase, the director now directly owns 48,000 shares in the company, valued at $470,880. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian N. Hansen purchased 7,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $9.94 per share, for a total transaction of $74,550.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 131,275 shares of company stock worth $1,299,392.
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About Franklin Street Properties Corp.
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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