Welcome to our dedicated page for Franklin St Prop news (Ticker: FSP), a resource for investors and traders seeking the latest updates and insights on Franklin St Prop stock.
Franklin Street Properties Corp. (FSP) is a Maryland-incorporated real estate investment trust (REIT) that focuses on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. This news page aggregates company announcements, earnings releases, and other public communications related to FSP’s operations and strategy.
Readers can use this page to follow Franklin Street Properties Corp.’s regular updates on quarterly financial results, leasing activity, and portfolio performance. The company’s earnings releases discuss metrics such as GAAP net loss, Funds From Operations (FFO), Adjusted Funds From Operations (AFFO), leasing volumes, leased percentages across its office portfolio, and weighted average GAAP base rents per square foot. These disclosures provide insight into how the company’s office properties are performing and how management views trends in occupancy and rent levels.
News items also cover Franklin Street Properties Corp.’s capital allocation decisions, including announcements of quarterly cash dividends on its common stock and disclosures about property dispositions and debt reduction. The company has reported using proceeds from select property sales primarily to repay indebtedness and has described efforts to improve its balance sheet while managing its office portfolio.
Another recurring theme in FSP’s news flow is its review of strategic alternatives. The company has announced that its Board of Directors is evaluating options such as a sale of the company, a sale of assets, and refinancing of existing indebtedness, with BofA Securities serving as financial advisor. Governance-related news, such as board appointments made under a cooperation agreement with certain stockholder parties, also appears in its current reports and press releases. Investors and analysts who follow office-focused REITs can monitor this page for Franklin Street Properties Corp.’s latest publicly released information and context around its portfolio, capital structure, and strategic review process.
Franklin Street Properties Corp. (NYSE American: FSP) has declared a quarterly dividend of $0.01 per share of common stock. This dividend covers the period from July 1, 2024, through September 30, 2024. The payment is scheduled for November 7, 2024, and will be distributed to stockholders of record as of October 18, 2024.
FSP encourages investors to visit their website at www.fspreit.com for additional information and news about the company. The Investor Relations section of the website is regularly updated with important information. Investors interested in receiving automatic updates can sign up for E-mail Alerts on the company's website.
Franklin Street Properties Corp. (NYSE American: FSP) announced its Q2 2024 results. Key highlights include:
- GAAP net loss of $21.0 million ($0.20 per share) for Q2 and $28.6 million ($0.28 per share) for H1 2024
- Funds From Operations (FFO) of $3.7 million ($0.04 per share) for Q2 and $7.9 million ($0.08 per share) for H1 2024
- Leased approximately 272,000 square feet in H1 2024, including 92,000 square feet of new leases
- Portfolio occupancy decreased to 72.3% as of June 30, 2024, from 74.0% at the end of 2023
- Sold Innsbrook property in Virginia for $31 million on July 8, 2024
- Reduced total indebtedness to $277.7 million after the sale
- Declared a quarterly cash dividend of $0.01 per share
Franklin Street Properties Corp. (FSP), a real estate investment trust listed on NYSE American, has announced it will release its second quarter 2024 results after market close on Tuesday, July 30, 2024. The company will host a conference call and webcast to discuss the results with investors on Wednesday, July 31, 2024, at 11:00 AM ET.
To participate in the call, investors can dial 888-440-4368 (US) or 646-960-0856 (International) using conference ID 5398803. A live audio webcast will be available in the Webcasts & Presentations section of FSP's website. A replay of the webcast will be accessible from the same location after the call concludes.
Franklin Street Properties Corp. (FSP) has announced the impact of Hurricane Beryl on its properties in Texas.
Properties in Houston experienced minimal effects and remain fully operational. Dallas properties were unaffected.
The company will provide updates if there are any material changes.
CEO George J. Carter extended gratitude to first responders and expressed sympathy for those affected by the hurricane.
For more information, visit FSP's Investor Relations section at www.fspreit.com.
Franklin Street Properties Corp. (FSP) has announced a quarterly dividend of $0.01 per share for the period from April 1, 2024, to June 30, 2024. The dividend will be payable on August 8, 2024, to shareholders who are recorded as of July 19, 2024. This information, along with other updates about FSP, can be found on the company's website, particularly in the Investor Relations section. FSP encourages investors to regularly check their website for important information and to sign up for email alerts for timely updates.
Franklin Street Properties Corp. (FSP), a real estate investment trust, reported its first-quarter results for 2024. The company aims to increase shareholder value by selling select properties and increasing occupancy. They sold an office property in Texas for $35 million, leased 197,000 square feet of office space, and repaid $102 million of debt. Their portfolio is well-located and leased assets have upside potential. As of March 31, 2024, total indebtedness was $303 million, cash on balance sheet was $37.7 million, and GAAP net loss was $7.6 million. FFO was $4.2 million. The company is suspending guidance due to economic uncertainty.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Franklin St Prop (FSP)?
What is the market cap of Franklin St Prop (FSP)?
