Franklin Street Properties Corp. (NYSEAMERICAN:FSP) declared a quarterly dividend on Monday, January 13th, Wall Street Journal reports. Investors of record on Friday, January 24th will be given a dividend of 0.09 per share by the real estate investment trust on Thursday, February 13th. This represents a $0.36 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, January 23rd.
Franklin Street Properties has decreased its dividend payment by an average of 22.1% annually over the last three years. Franklin Street Properties has a payout ratio of 720.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
FSP opened at $7.88 on Wednesday. Franklin Street Properties has a 12 month low of $6.54 and a 12 month high of $8.97.
Several research firms recently commented on FSP. BMO Capital Markets cut Franklin Street Properties from a “market perform” rating to an “underperform” rating and set a $8.00 target price for the company. in a research note on Tuesday, January 7th. B. Riley reissued a “buy” rating on shares of Franklin Street Properties in a research note on Monday, November 4th. Zacks Investment Research raised Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird cut Franklin Street Properties from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $8.81.
Franklin Street Properties Company Profile
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.
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