Franklin Street Properties (FSP) Releases Earnings Results, Beats Estimates By $0.08 EPS

Franklin Street Properties (NYSEAMERICAN:FSP) released its earnings results on Tuesday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.08, MarketWatch Earnings reports. The business had revenue of $68.71 million for the quarter, compared to analyst estimates of $66.44 million. Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%.

Shares of Franklin Street Properties stock traded down $0.24 during trading on Wednesday, reaching $7.05. The company’s stock had a trading volume of 33,289 shares, compared to its average volume of 405,853. Franklin Street Properties has a 12-month low of $7.03 and a 12-month high of $11.00.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Friday, October 19th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.11%.

Separately, Zacks Investment Research downgraded Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Franklin Street Properties currently has an average rating of “Hold” and a consensus price target of $8.94.

About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.

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Earnings History for Franklin Street Properties (NYSEAMERICAN:FSP)

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