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. reports developments as a REIT focused on commercial office real estate and real estate operations. News commonly covers operating and financial results, leasing and property operations, property dispositions, common-stock dividends and annual distribution tax composition. Company updates also address capital-structure actions, including secured credit financing used to refinance outstanding indebtedness, and governance or strategic-review matters at the portfolio, asset and corporate levels.
FSP's business disclosures center on rental income from real estate leasing, office-market conditions, property-level investment needs, and services provided through subsidiaries, including asset management, property management, property accounting, investor services and development services for its portfolio and Sponsored REIT activities.
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.
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