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

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Investors of record on Friday, January 24th will be given a dividend of 0.01 per share on Thursday, February 13th. This represents a $0.04 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, January 24th.

Franklin Street Properties has decreased its dividend by an average of 51.9% annually over the last three years. Franklin Street Properties has a payout ratio of -14.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Franklin Street Properties to earn $0.12 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 33.3%.

Franklin Street Properties Price Performance

Shares of FSP remained flat at $1.76 during midday trading on Monday. 188,563 shares of the stock traded hands, compared to its average volume of 371,380. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Franklin Street Properties has a one year low of $1.47 and a one year high of $2.62. The firm has a 50 day moving average price of $1.88 and a 200 day moving average price of $1.75. The stock has a market cap of $182.28 million, a PE ratio of -4.51 and a beta of 0.82.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. The business had revenue of $29.68 million for the quarter. During the same period in the previous year, the company posted ($0.44) earnings per share. Equities analysts anticipate that Franklin Street Properties will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Franklin Street Properties

In other Franklin Street Properties news, Director Bruce J. Schanzer purchased 110,589 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $1.87 per share, with a total value of $206,801.43. Following the completion of the transaction, the director now owns 3,405,463 shares in the company, valued at $6,368,215.81. This trade represents a 3.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey B. Carter acquired 18,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $2.12 per share, for a total transaction of $39,220.00. Following the acquisition, the insider now owns 18,500 shares in the company, valued at approximately $39,220. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 172,400 shares of company stock valued at $327,879 in the last three months. 6.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

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.