Franklin Street Properties Corp. (FSP) Issues Q Earnings Guidance

Franklin Street Properties Corp. (AMEX:FSP) updated its Q earnings guidance on Tuesday. The company provided earnings per share guidance of $0.25 to $0.26 for the period. Franklin Street Properties Corp. also updated its FY17 guidance to $1.04 to $1.08 EPS.

A number of research firms have weighed in on FSP. ValuEngine lowered Franklin Street Properties Corp. from a buy rating to a hold rating in a research note on Saturday, June 10th. Zacks Investment Research lowered Franklin Street Properties Corp. from a buy rating to a hold rating in a research note on Friday, May 5th. FBR & Co reissued an outperform rating and set a $13.00 price objective on shares of Franklin Street Properties Corp. in a research note on Tuesday, July 11th. Robert W. Baird lowered Franklin Street Properties Corp. from an outperform rating to a neutral rating and lowered their price objective for the stock from $14.00 to $12.00 in a research note on Thursday, May 4th. Finally, BidaskClub lowered Franklin Street Properties Corp. from a hold rating to a sell rating in a research note on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Franklin Street Properties Corp. presently has a consensus rating of Hold and an average price target of $13.00.

Shares of Franklin Street Properties Corp. (AMEX FSP) traded down 1.81% during trading on Friday, hitting $9.77. The stock had a trading volume of 811,789 shares. The stock’s 50 day moving average is $10.55 and its 200-day moving average is $11.50. Franklin Street Properties Corp. has a 12-month low of $9.69 and a 12-month high of $13.27.

Franklin Street Properties Corp. (AMEX:FSP) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $68.37 million for the quarter, compared to analysts’ expectations of $67.75 million. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that Franklin Street Properties Corp. will post ($0.07) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Friday, July 21st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Wednesday, July 19th. Franklin Street Properties Corp.’s dividend payout ratio (DPR) is 330.43%.

In other news, Director Kathryn P. O’neil bought 5,000 shares of Franklin Street Properties Corp. stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased 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 at this hyperlink. Also, Director Kenneth A. Hoxsie bought 3,000 shares of Franklin Street Properties Corp. stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $9.81 per share, for a total transaction of $29,430.00. Following the acquisition, the director now directly owns 48,000 shares of the company’s stock, valued at approximately $470,880. The disclosure for this purchase can be found here. Insiders have bought 14,230 shares of company stock worth $148,992 in the last 90 days.

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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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