Franklin Street Properties Corp. (NYSE:FSP) to Issue $0.01 Quarterly Dividend

Franklin Street Properties Corp. (NYSE:FSP) declared a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Investors of record on Friday, January 24th will be paid 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 of this dividend is Friday, January 24th.

Franklin Street Properties has decreased its dividend payment by an average of 51.9% per year over the last three years. Franklin Street Properties has a dividend 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. Equities 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 Stock Performance

NYSE:FSP opened at $1.76 on Tuesday. Franklin Street Properties has a twelve month low of $1.47 and a twelve month high of $2.62. The company has a market capitalization of $182.28 million, a P/E ratio of -4.51 and a beta of 0.82. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $1.88 and a two-hundred day moving average price of $1.75.

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

Insider Activity

In related news, insider Jeffrey B. Carter purchased 18,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $2.12 per share, for a total transaction of $39,220.00. Following the completion of the purchase, the insider now owns 18,500 shares in the company, valued at approximately $39,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce J. Schanzer acquired 43,311 shares of Franklin Street Properties stock in a transaction on Friday, December 13th. The shares were bought at an average price of $1.89 per share, for a total transaction of $81,857.79. Following the completion of the purchase, the director now directly owns 3,489,374 shares in the company, valued at $6,594,916.86. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 172,400 shares of company stock valued at $327,879 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

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

About Franklin Street Properties

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.