Franklin Street Properties Corp. (FSP) To Go Ex-Dividend on October 19th
Franklin Street Properties Corp. (AMEX:FSP) announced a quarterly dividend on Monday, October 9th, Wall Street Journal reports. Shareholders of record on Friday, October 20th will be given a dividend of 0.19 per share by the real estate investment trust on Thursday, November 9th. This represents a $0.76 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Thursday, October 19th.
Shares of Franklin Street Properties Corp. (AMEX:FSP) opened at 10.38 on Wednesday. The firm’s 50-day moving average is $10.24 and its 200 day moving average is $10.94. Franklin Street Properties Corp. has a 52-week low of $9.59 and a 52-week high of $13.27.
Franklin Street Properties Corp. (AMEX:FSP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $68.37 million for the quarter, compared to analyst estimates of $67.75 million. Franklin Street Properties Corp. had a negative net margin of 25.44% and a negative return on equity of 7.52%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Franklin Street Properties Corp. will post ($0.07) earnings per share for the current year.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Franklin Street Properties Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus restated a “hold” rating and set a $10.00 target price on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. Janney Montgomery Scott assumed coverage on shares of Franklin Street Properties Corp. in a research report on Friday, September 8th. They set a “buy” rating on the stock. FBR & Co restated an “outperform” rating and set a $13.00 target price on shares of Franklin Street Properties Corp. in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Franklin Street Properties Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Franklin Street Properties Corp. has a consensus rating of “Hold” and an average target price of $11.67.
In other Franklin Street Properties Corp. news, Director Dennis J. Mcgillicuddy bought 100,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were acquired at an average cost of $9.88 per share, for a total transaction of $988,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth A. Hoxsie bought 3,000 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $9.81 per share, for a total transaction of $29,430.00. Following the completion of the transaction, the director now owns 48,000 shares of the company’s stock, valued at approximately $470,880. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 131,275 shares of company stock worth $1,299,392.
Franklin Street Properties Corp. Company Profile
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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