Franklin Street Properties Corp. Forecasted to Earn FY2022 Earnings of $0.40 Per Share (NYSEAMERICAN:FSP)

Franklin Street Properties Corp. (NYSEAMERICAN:FSPGet Rating) – Equities researchers at B. Riley reduced their FY2022 earnings estimates for Franklin Street Properties in a research report issued on Thursday, May 5th. B. Riley analyst C. Kucera now expects that the real estate investment trust will earn $0.40 per share for the year, down from their previous estimate of $0.41. B. Riley also issued estimates for Franklin Street Properties’ Q4 2022 earnings at $0.07 EPS, Q1 2023 earnings at $0.10 EPS and Q4 2023 earnings at $0.08 EPS.

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Franklin Street Properties had a net margin of 22.85% and a return on equity of 6.78%.

Separately, Zacks Investment Research cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Thursday.

Shares of Franklin Street Properties stock opened at $4.89 on Monday. The stock has a market capitalization of $505.07 million, a PE ratio of 10.19 and a beta of 0.87. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. Franklin Street Properties has a 1 year low of $4.41 and a 1 year high of $6.58.

Several institutional investors and hedge funds have recently modified their holdings of FSP. Fuller & Thaler Asset Management Inc. raised its stake in shares of Franklin Street Properties by 0.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,209,143 shares of the real estate investment trust’s stock worth $42,894,000 after purchasing an additional 28,941 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Franklin Street Properties by 619.8% during the 4th quarter. JPMorgan Chase & Co. now owns 6,934,842 shares of the real estate investment trust’s stock worth $41,263,000 after purchasing an additional 5,971,438 shares during the period. State Street Corp increased its holdings in Franklin Street Properties by 2.0% in the 4th quarter. State Street Corp now owns 4,671,045 shares of the real estate investment trust’s stock worth $29,282,000 after acquiring an additional 89,426 shares during the last quarter. Private Management Group Inc. increased its holdings in Franklin Street Properties by 1.8% in the 1st quarter. Private Management Group Inc. now owns 2,189,620 shares of the real estate investment trust’s stock worth $12,919,000 after acquiring an additional 38,211 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Franklin Street Properties by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,022,704 shares of the real estate investment trust’s stock worth $12,035,000 after acquiring an additional 65,714 shares during the last quarter. Institutional investors own 81.65% of the company’s stock.

In related news, Director Kenneth A. Hoxsie bought 10,400 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was purchased at an average price of $4.79 per share, with a total value of $49,816.00. Following the completion of the acquisition, the director now owns 110,168 shares of the company’s stock, valued at $527,704.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian N. Hansen acquired 50,000 shares of the stock in a transaction dated Friday, February 18th. The stock was purchased at an average cost of $5.68 per share, with a total value of $284,000.00. The disclosure for this purchase can be found here. 4.35% of the stock is currently owned by insiders.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Friday, April 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $0.36 dividend on an annualized basis and a yield of 7.36%. Franklin Street Properties’s payout ratio is 75.00%.

About Franklin Street Properties (Get Rating)

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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