Franklin Street Properties Corp. (FSP) To Go Ex-Dividend on April 18th

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Friday, April 5th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be paid a dividend of 0.01 per share on Thursday, May 9th. This represents a $0.04 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, April 18th.

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 payout ratio of -22.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Franklin Street Properties to earn $0.25 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 16.0%.

Franklin Street Properties Trading Down 5.7 %

Shares of FSP stock opened at $1.97 on Tuesday. Franklin Street Properties has a 12-month low of $1.13 and a 12-month high of $2.72. The firm has a 50 day moving average price of $2.25 and a two-hundred day moving average price of $2.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $203.76 million, a PE ratio of 7.21 and a beta of 0.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can raised its position in Franklin Street Properties by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 165,107 shares of the company’s stock valued at $1,002,000 after purchasing an additional 2,802 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Franklin Street Properties by 4.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 94,978 shares of the company’s stock worth $250,000 after buying an additional 3,770 shares during the period. Prudential Financial Inc. grew its holdings in Franklin Street Properties by 0.5% during the 1st quarter. Prudential Financial Inc. now owns 1,061,356 shares of the company’s stock worth $6,262,000 after acquiring an additional 5,300 shares during the last quarter. State of Tennessee Treasury Department grew its stake in shares of Franklin Street Properties by 8.7% in the fourth quarter. State of Tennessee Treasury Department now owns 73,844 shares of the company’s stock worth $202,000 after purchasing an additional 5,899 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Franklin Street Properties by 10.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 63,278 shares of the company’s stock valued at $167,000 after buying an additional 5,942 shares during the period. Institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Franklin Street Properties from a “hold” rating to a “sell” rating in a report on Saturday.

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.