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Franklin Street Properties Corp - FSP STOCK NEWS

Welcome to our dedicated page for Franklin Street Properties news (Ticker: FSP), a resource for investors and traders seeking the latest updates and insights on Franklin Street Properties stock.

Franklin Street Properties Corp (FSP) is a prominent real estate investment trust (REIT) headquartered in Wakefield, Massachusetts. Specializing in institutional-quality office properties, FSP's primary focus lies in major U.S. markets, particularly in urban infill and central business district (CBD) areas. The company’s core markets include Atlanta, Dallas, Denver, Houston, and Minneapolis, regions known for their strong economic fundamentals and growth potential.

Founded in 1997 and publicly traded since June 2005, FSP has established a robust strategy centered on acquiring and managing value-oriented investments aimed at long-term growth and current income. The company’s primary real estate operations encompass property acquisitions, leasing, development, asset management, and dispositions. These activities generate rental income, interest income from secured loans, and fee income from asset management services.

FSP prides itself on a selective investment approach, focusing on properties that promise value appreciation and stable income streams. This approach has facilitated significant achievements, including the development of high-quality office spaces and strategic partnerships that enhance property value and tenant satisfaction.

Recent endeavors include the acquisition and development of key office properties in target markets, aligning with FSP's vision of fostering urban growth and facilitating business operations in thriving economic hubs. The company continuously seeks opportunities for property upgrades and efficient asset management to maximize shareholder value.

Financially, FSP maintains a stable condition characterized by prudent financial management and strategic capital allocation. The company's revenue streams from leasing activities, property sales, and management fees underscore its diversified income portfolio, ensuring resilience against market fluctuations.

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Franklin Street Properties (NYSE American: FSP) announced the appointment of Bruce J. Schanzer to its Board of Directors, effective November 27, 2024. Schanzer will also serve on the Audit Committee, bringing the total board size to eight directors, with seven being independent. The company has entered into a Cooperation Agreement with significant shareholders Converium Capital and Erez Asset Management, who will vote in favor of the Board's director nominees at the 2025 Annual Meeting. The agreement includes customary standstill and voting provisions.

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Franklin Street Properties (NYSE American: FSP) reported Q3 2024 results with a GAAP net loss of $15.6 million ($0.15 per share). The company's Funds From Operations (FFO) was $2.7 million ($0.03 per share). FSP completed two significant property sales: Innsbrook in Virginia for $31 million and Pershing Park Plaza in Atlanta for $34 million, using proceeds to reduce debt to $250.3 million. The company's portfolio occupancy decreased to 70.4% from 74.0% at year-end 2023. FSP leased approximately 92,000 square feet in Q3, with weighted average rents increasing 10.9% to $29.94 per square foot. The Board declared a quarterly dividend of $0.01 per share.

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Franklin Street Properties Corp. (FSP), a real estate investment trust (REIT) listed on NYSE American, has announced its plans to release third quarter 2024 results after market close on Tuesday, October 29, 2024. The company will host a conference call and webcast with investors on Wednesday, October 30, 2024, at 11:00 AM ET to discuss the results.

Participants can access the call by dialing 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. The webcast replay will be accessible from the same location one hour after the call concludes.

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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.

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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
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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.

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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.

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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.

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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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Franklin Street Properties Corp. (FSP) will announce its first-quarter 2024 results on April 30, 2024. A conference call/webcast to discuss the results will be held on May 1, 2024. Investors can access the call via phone or webcast.
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FAQ

What is the current stock price of Franklin Street Properties (FSP)?

The current stock price of Franklin Street Properties (FSP) is $1.91 as of December 20, 2024.

What is the market cap of Franklin Street Properties (FSP)?

The market cap of Franklin Street Properties (FSP) is approximately 193.7M.

What does Franklin Street Properties Corp (FSP) specialize in?

FSP specializes in investing in institutional-quality office properties in major U.S. markets.

Where are FSP's primary markets located?

FSP's primary markets include Atlanta, Dallas, Denver, Houston, and Minneapolis.

What are the main operations of FSP?

FSP's main operations include property acquisitions, leasing, development, asset management, and dispositions.

When was Franklin Street Properties Corp founded?

FSP was founded in 1997.

When did FSP become a publicly-traded company?

FSP became publicly traded in June 2005.

What is FSP's investment strategy?

FSP's investment strategy focuses on value-oriented investments that promise long-term growth and current income.

How does FSP generate income?

FSP generates income through rental income from leasing, interest income from secured loans, property dispositions, and asset management fees.

What recent achievements has FSP accomplished?

Recent achievements include acquiring and developing high-quality office properties in key urban markets.

What is the financial condition of FSP?

FSP maintains a stable financial condition with diversified income streams and prudent financial management.

What are FSP's future plans?

FSP plans to continue focusing on property upgrades, efficient asset management, and exploring new investment opportunities in key markets.

Franklin Street Properties Corp

NYSE:FSP

FSP Rankings

FSP Stock Data

193.67M
78.20M
24.5%
66.9%
1.64%
REIT - Office
Real Estate Investment Trusts
Link
United States of America
WAKEFIELD