Franklin Street Properties Corp. (AMEX:FSP) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.04 to $1.08 for the period, compared to the Thomson Reuters consensus estimate of $1.05. Franklin Street Properties Corp. also updated its Q guidance to $0.25 to $0.26 EPS.
Shares of Franklin Street Properties Corp. (FSP) traded down 0.10% on Friday, hitting $10.02. 562,639 shares of the stock were exchanged. Franklin Street Properties Corp. has a 52-week low of $9.88 and a 52-week high of $13.27. The company has a 50 day moving average of $10.69 and a 200 day moving average of $11.60.
Franklin Street Properties Corp. (AMEX:FSP) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. The company had revenue of $68.37 million during the quarter, compared to analysts’ expectations of $67.75 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. Analysts predict that Franklin Street Properties Corp. will post $0.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, July 21st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend was Wednesday, July 19th. Franklin Street Properties Corp.’s dividend payout ratio (DPR) is presently 330.43%.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Franklin Street Properties Corp. from a hold rating to a sell rating in a research note on Tuesday, April 18th. Robert W. Baird lowered Franklin Street Properties Corp. from an outperform rating to a neutral rating and dropped their target price for the stock from $14.00 to $12.00 in a report on Thursday, May 4th. ValuEngine lowered Franklin Street Properties Corp. from a buy rating to a hold rating in a report on Saturday, June 10th. BidaskClub lowered Franklin Street Properties Corp. from a hold rating to a sell rating in a report on Thursday, June 22nd. Finally, FBR & Co reissued an outperform rating and issued a $13.00 price objective on shares of Franklin Street Properties Corp. in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $13.00.
In other news, Director Kathryn P. O’neil bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average price of $11.33 per share, for a total transaction of $56,650.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders bought 17,070 shares of company stock worth $185,573.
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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