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

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 given a dividend of 0.01 per share on Thursday, May 9th. This represents a $0.04 dividend on an annualized basis and a yield of 2.06%. 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% annually over the last three years. Franklin Street Properties has a dividend payout ratio of -22.2% meaning 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 $0.25 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 Stock Down 1.5 %

FSP stock opened at $1.94 on Wednesday. The company has a market cap of $200.65 million, a price-to-earnings ratio of 6.79 and a beta of 0.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. 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 of $2.25 and a two-hundred day moving average of $2.26.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new position in shares of Franklin Street Properties in the 3rd quarter valued at $26,000. Quadrature Capital Ltd purchased a new stake in Franklin Street Properties in the 3rd quarter valued at about $29,000. Alpine Global Management LLC purchased a new stake in Franklin Street Properties in the 4th quarter valued at about $34,000. Captrust Financial Advisors purchased a new stake in Franklin Street Properties in the 2nd quarter valued at about $38,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Franklin Street Properties in the 2nd quarter valued at about $40,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.