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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), a real estate investment trust, announced its upcoming third-quarter 2022 results, set to be released after market close on November 1, 2022. A conference call/webcast for investors will be held on November 2, 2022, at 11:00 AM ET to discuss the results. Investors can access the call via telephone or through a live audio webcast on the company’s website. FSP focuses on infill and central business district office properties across the U.S. with an emphasis on long-term growth and income.
Franklin Street Properties Corp. (FSP) has declared a quarterly dividend of $0.01 per share for the period from July 1, 2022 to September 30, 2022. This dividend is payable on November 10, 2022 to stockholders of record as of October 21, 2022. The company focuses on infill and central business district office properties in the U.S. Sunbelt and Mountain West regions, seeking long-term growth and current income as a real estate investment trust (REIT).
Franklin Street Properties Corp. (FSP) has completed the sale of two properties in Broomfield, Colorado, for a total of $102.5 million. The company expects to realize a gain of approximately $24 million in Q3 2022 from this transaction. Proceeds from the sale will primarily be used for debt reduction. The sale aligns with FSP's strategy focused on value-oriented investments and long-term growth. The company operates as a real estate investment trust (REIT) and targets office properties in key U.S. markets.
Franklin Street Properties Corp. (FSP) reported its second-quarter results as of June 30, 2022, highlighting a GAAP net loss of $9.1 million. The company plans to increase shareholder value through property sales and aims for $200-$300 million in gross proceeds from dispositions. Occupancy in its portfolio decreased to 76.3% from 78.4%. Notably, the company adopted a variable quarterly dividend policy, declaring a cash dividend of $0.01 per share. The upcoming earnings call is set for August 3, 2022.
Franklin Street Properties Corp. (FSP) announced that it will release its second quarter 2022 results on August 2, 2022, after market close. A conference call will take place at 11:00 AM ET on August 3, 2022, to discuss these results. Investors can join the call by dialing 1-844-200-6205 or via international access at 1-929-526-1599 (access code: 703841). A live audio webcast will also be available on FSP's website. The company focuses on value-oriented real estate investments across various U.S. markets.
Franklin Street Properties Corp. (FSP) has declared a quarterly dividend of $0.01 per share, payable on August 11, 2022, to stockholders of record as of July 19, 2022. The company has replaced its regular quarterly dividend policy with a new variable quarterly dividend policy. This policy will allow the Board to adjust dividends based on factors such as annual taxable income and required distributions to maintain REIT status. The new approach aims to better align with the company’s objectives of enhancing shareholder value through property sales and improving occupancy rates.
Franklin Street Properties Corp. (FSP) reported its Q1 2022 results, posting a GAAP net loss of $4.2 million ($0.04 per share). Funds from Operations (FFO) were $11.6 million ($0.11 per share), while Adjusted Funds from Operations (AFFO) stood at $0.01 per share. Occupancy dropped to 77.3% from 78.4% in Q4 2021. The company maintains its 2022 property disposition guidance at $250-$350 million. Recent stock repurchases totaled 847,000 shares, and a quarterly dividend of $0.09 per share will be paid on May 5, 2022. An earnings call is planned for May 4, 2022.
Franklin Street Properties Corp. (FSP) announced it will release its first quarter 2022 results on May 3, 2022, after market close. A conference call for investors will follow on May 4, 2022, at 11:00 AM ET. Interested participants can join the call by dialing 1-844-200-6205 (international: 1-929-526-1599) and using access code 683292. The event will also be available via live audio webcast on the company’s website, which will feature additional investor information.
Franklin Street Properties Corp. (FSP) announced a quarterly dividend of $0.09 per share for the period of January 1, 2022 through March 31, 2022. This dividend will be payable on May 5, 2022 to stockholders on record as of April 15, 2022. The firm focuses on infill and central business district office properties primarily in the U.S. Sunbelt and Mountain West regions, aiming for value-oriented investments that promote long-term growth and current income.
Franklin Street Properties Corp. (FSP) reported results for Q4 and the year ended December 31, 2021, showcasing significant debt reduction and property sales. The company decreased total indebtedness by approximately 53%, from $1 billion to $475 million. FSP sold ten properties for about $603 million, with a weighted-average capitalization rate of 5.5%. GAAP net income was $78.6 million ($0.75 per share) for Q4 and $92.7 million ($0.87 per share) for the year. The company plans further asset sales in 2022, aiming for $250-$350 million, with proceeds for debt reduction and stock repurchases.
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