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

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Monday, October 7th, Wall Street Journal reports. Shareholders 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 2.45%. The ex-dividend date is Friday, October 18th.

Franklin Street Properties has decreased its dividend by an average of 47.7% annually 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. 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 Price Performance

Franklin Street Properties stock opened at $1.63 on Tuesday. The stock’s 50 day moving average is $1.67 and its 200 day moving average is $1.78. Franklin Street Properties has a one year low of $1.47 and a one year high of $2.72. The firm has a market cap of $168.59 million, a P/E ratio of -2.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.79 and a quick ratio of 2.79.

Franklin Street Properties (NYSE:FSP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The firm had revenue of $30.83 million during the quarter. Franklin Street Properties had a negative net margin of 52.85% and a negative return on equity of 10.06%. As a group, research analysts expect that Franklin Street Properties will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

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