Franklin Street Properties Corp. (FSP) Updates FY17 Earnings Guidance

Franklin Street Properties Corp. (AMEX:FSP) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$1.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.05. Franklin Street Properties Corp. also updated its Q guidance to ~$0.25 EPS.

Several brokerages recently commented on FSP. Zacks Investment Research upgraded shares of Franklin Street Properties Corp. from a sell rating to a hold rating in a research report on Tuesday, October 17th. ValuEngine upgraded shares of Franklin Street Properties Corp. from a hold rating to a buy rating in a research report on Thursday, July 6th. Stifel Nicolaus restated a hold rating and issued a $10.00 price target on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. FBR & Co restated an outperform rating and issued a $13.00 price target on shares of Franklin Street Properties Corp. in a research report on Tuesday, July 11th. Finally, Janney Montgomery Scott began coverage on shares of Franklin Street Properties Corp. in a research report on Friday, September 8th. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $11.67.

Franklin Street Properties Corp. (AMEX:FSP) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. Franklin Street Properties Corp. had a negative net margin of 25.44% and a negative return on equity of 7.52%. The firm had revenue of $67.30 million for the quarter, compared to analyst estimates of $66.31 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 20th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend is Thursday, October 19th. Franklin Street Properties Corp.’s payout ratio is currently 330.43%.

In related news, Director Brian N. Hansen purchased 7,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $9.94 per share, with a total value of $74,550.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth A. Hoxsie purchased 3,000 shares of the business’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $9.81 per share, for a total transaction of $29,430.00. Following the purchase, the director now owns 48,000 shares of the company’s stock, valued at approximately $470,880. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 131,275 shares of company stock worth $1,299,392.

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Franklin Street Properties Corp. Company Profile

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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