Franklin Street Properties Corp. (NYSE:FSP – Get Free Report) declared a quarterly dividend on Friday, October 4th, Wall Street Journal reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.01 per share on Thursday, November 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 18th.
Franklin Street Properties has decreased its dividend by an average of 47.7% per year over the last three years. Franklin Street Properties has a dividend payout ratio of -12.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Franklin Street Properties to earn $0.10 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 40.0%.
Franklin Street Properties Stock Up 3.4 %
Shares of NYSE FSP opened at $1.69 on Thursday. The stock has a market capitalization of $174.28 million, a PE ratio of -3.01 and a beta of 0.81. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $1.67 and a 200-day moving average of $1.76. Franklin Street Properties has a 52-week low of $1.47 and a 52-week high of $2.72.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a report on Saturday, September 28th.
Check Out Our Latest Stock Analysis on FSP
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.
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