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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.
Franklin Street Properties Corp. (FSP) announced that it will release its first quarter 2023 results after market close on May 2, 2023. A conference call/webcast will follow on May 3, 2023, at 11:00 AM ET to discuss these results. Investors can access the call via phone or by visiting the Company’s website for a live audio webcast. The webcast will also be available for replay afterwards.
FSP focuses on CBD office properties in the U.S. Sunbelt and Mountain West and aims for long-term growth and income. For more information, investors are encouraged to regularly check the Company’s Investor Relations section.
Franklin Street Properties Corp. (FSP) has declared a quarterly dividend of $0.01 per share of common stock for the period January 1, 2023 to March 31, 2023. This dividend will be paid on May 11, 2023 to stockholders of record as of April 21, 2023. FSP focuses on infill and central business district office properties in the U.S. Sunbelt and Mountain West regions, targeting value-oriented investments. The corporation aims for long-term growth and current income, operating under the structure of a real estate investment trust (REIT).
Franklin Street Properties Corp. (NYSE American: FSP) has completed the sale of the property located at 50 Northwest Point in Elk Grove Village, Illinois, for gross proceeds of $29.1 million. The company anticipates recording a gain of approximately $8.4 million in Q1 2023 related to this sale. Proceeds from this transaction will primarily be utilized for debt reduction. The announcement underscores FSP's commitment to financial prudence and long-term growth strategies within the real estate market, specifically focusing on value-oriented investments in key U.S. regions.
Franklin Street Properties Corp. (FSP) reported its Q4 2022 and full-year results, showing a GAAP net loss of $2.9 million for Q4 and net income of $1.1 million for the year. Funds From Operations (FFO) totaled $10.5 million for Q4 and $41.3 million for the full year. The company repaid approximately $137 million in debt and leased 435,000 square feet during 2022. Looking forward, FSP plans to sell select properties and use proceeds for debt reduction. Future guidance on net income and FFO remains suspended due to economic uncertainty. A quarterly dividend of $0.01 per share was declared for Q4, payable on February 16, 2023.
Franklin Street Properties Corp. (FSP) announced that it will release its fourth quarter and full year 2022 results on February 14, 2023, after market close. A conference call/webcast is scheduled for February 15, 2023, at 11:00 AM ET to discuss these results. Investors can join the call by dialing 1-844-200-6205 (internationally 1-929-526-1599) with access code 758069. The results and additional information about FSP are available on their website.
Franklin Street Properties Corp. (FSP) announced the tax composition of its 2022 distributions. Shareholders are advised to consult their tax advisors regarding the specific tax treatment of these distributions. The press release includes details on the taxability of ordinary dividends, qualified dividends, and capital gain distributions. For 2022, the total distribution was $0.20 per share, with no taxable amounts or additional capital gains reported. The company focuses on real estate investments in U.S. Sunbelt and Mountain West regions and aims to qualify as a real estate investment trust (REIT).
Franklin Street Properties Corp. (FSP) announced a quarterly dividend of $0.01 per share for the period from October 1, 2022 to December 31, 2022. This dividend is payable on February 16, 2023 to stockholders who are on record as of January 27, 2023. FSP focuses on value-oriented investments in infill and central business district office properties across the U.S. Sunbelt and Mountain West regions, operating as a Real Estate Investment Trust (REIT).
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