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

Franklin Street Properties Corp. (NYSE:FSP) declared a quarterly dividend on Friday, July 11th, RTT News reports. Stockholders of record on Friday, July 25th will be given a dividend of 0.01 per share on Thursday, August 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.35%.

Franklin Street Properties has a dividend payout ratio of -12.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Franklin Street Properties to earn $0.11 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 36.4%.

Franklin Street Properties Stock Performance

NYSE FSP opened at $1.70 on Friday. The firm has a market cap of $176.06 million, a price-to-earnings ratio of -3.40 and a beta of 0.87. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $1.72 and a 200-day moving average price of $1.75. Franklin Street Properties has a twelve month low of $1.36 and a twelve month high of $2.21.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Franklin Street Properties from a “hold” rating to a “sell” rating in a research note on Thursday, May 15th.

Hedge Funds Weigh In On Franklin Street Properties

An institutional investor recently bought a new position in Franklin Street Properties stock. Strs Ohio acquired a new stake in Franklin Street Properties Corp. (NYSE:FSP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,200 shares of the company’s stock, valued at approximately $32,000. 61.41% of the stock is owned by institutional investors.

Franklin Street Properties Company Profile

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.