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. (FSP) has declared a quarterly dividend of $0.09 per share, payable on February 17, 2022. The dividend is for the period from October 1, 2021 to December 31, 2021, with a record date of January 28, 2022. Additionally, FSP forecasts property sales between $250 million and $350 million in 2022 to boost shareholder value, intending to utilize proceeds for debt reduction and potential special dividends.
Franklin Street Properties Corp. (FSP) has declared a special cash dividend of $0.32 per share, payable on January 12, 2022, to stockholders of record as of December 31, 2021. This decision stems from taxable gains realized from the disposition of approximately $600 million in assets during 2021. The company focuses on value-oriented investments in office properties across key U.S. markets, aiming for long-term growth and current income for its shareholders.
Franklin Street Properties Corp. (FSP) has completed the sale of Meadow Point and 4807 Stonecroft in Chantilly, Virginia, yielding aggregate gross proceeds of $40 million. This brings total disposals for 2021 to approximately $600 million. The proceeds will be utilized for debt reduction, stock repurchases, potential special dividends to meet REIT requirements, and general corporate purposes, enhancing the company's financial flexibility.
Franklin Street Properties Corp. (FSP) has reported a strong execution of its 2021 strategy, focusing on debt reduction and property leasing. The company reduced its total debt by approximately 53% to about $475 million through significant repayments.
FSP also sold eight properties for around $563 million, exceeding expectations, and increased its disposition guidance range to approximately $563 million to $600 million. Positive leasing activity included 329,000 square feet leased in Q3 2021, with a new lease of 100,000 square feet in Atlanta. FSP anticipates declaring a special dividend in January 2022.
Franklin Street Properties Corp. (FSP) will release its third-quarter 2021 results on November 8, 2021, after market close. A conference call/webcast is scheduled for November 9, 2021, at 11:00 AM ET to discuss the results. Investors can access the call by dialing 1-800-464-8240 or internationally at 1-412-902-6521. The live audio webcast will be available on the Company's website.
Based in Wakefield, Massachusetts, FSP focuses on office properties in the U.S. Sunbelt and Mountain West regions, seeking value-oriented investments.
Franklin Street Properties Corp. (FSP) has declared a regular quarterly dividend of $0.09 per share for the period from July 1, 2021 to September 30, 2021. The dividend is payable on November 11, 2021 to stockholders of record as of October 22, 2021. This decision reflects FSP's ongoing commitment to providing income to its shareholders while focusing on infill and CBD office properties across the U.S. Sunbelt and Mountain West regions.
Franklin Street Properties Corp. (FSP) reported its second-quarter results for 2021, focusing on debt reduction and leasing efforts. Key highlights include:
- Sold 4 properties, raising $237 million, primarily used to repay $155 million of term loans and $47.5 million under a credit line.
- GAAP net income of $16.2 million ($0.15 per share) and FFO of $14.8 million ($0.14 per share).
- Leased 563,000 square feet in H1 2021; 78.5% of properties leased as of June 30, 2021.
- Dividend of $0.09 per share declared for Q2 2021, payable on August 5, 2021.
Franklin Street Properties Corp. (FSP) will announce its second quarter 2021 results after market close on August 3, 2021. A conference call/webcast to discuss these results is scheduled for August 4, 2021, at 11:00 AM ET. Interested participants can access the call by dialing 1-800-464-8240 or listen via a live audio webcast on the company’s website. FSP focuses on value-oriented office properties in the U.S. Sunbelt and Mountain West regions, aiming for long-term growth and current income.
Franklin Street Properties Corp. (FSP) has declared a quarterly dividend of $0.09 per share for the period from April 1, 2021, to June 30, 2021. This dividend is payable on August 5, 2021 to stockholders of record as of July 16, 2021. The company focuses on value-oriented investments in U.S. Sunbelt and Mountain West office properties, aiming for long-term growth and current income. For more details, visit www.fspreit.com.
Franklin Street Properties Corp. (FSP) has authorized a share buyback program of up to $50 million. Purchases will occur in the open market or through other permissible means, determined by market conditions and legal requirements. CEO George J. Carter stated that part of the proceeds from previously announced asset sales, expected to yield between $350 million and $450 million, might be allocated for this buyback. The goal is to enhance shareholder value by addressing the discrepancy between the stock price and the intrinsic value of assets.