Franklin Street Properties Corp. (NYSEAMERICAN:FSP) announced a quarterly dividend on Monday, October 11th, Wall Street Journal reports. Investors of record on Friday, October 22nd will be paid a dividend of 0.09 per share by the real estate investment trust on Thursday, November 11th. This represents a $0.36 annualized dividend and a dividend yield of 6.86%. The ex-dividend date is Thursday, October 21st.
Franklin Street Properties has decreased its dividend payment by 52.6% over the last three years and has increased its dividend annually for the last 1 consecutive years. Franklin Street Properties has a payout ratio of 1,200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Franklin Street Properties to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 65.5%.
Shares of NYSEAMERICAN:FSP opened at $5.25 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $563.82 million, a P/E ratio of 12.50 and a beta of 0.99. Franklin Street Properties has a 52 week low of $3.79 and a 52 week high of $6.65.
Separately, Zacks Investment Research upgraded shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Monday.
A hedge fund recently raised its stake in Franklin Street Properties stock. Royal Bank of Canada lifted its holdings in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 420.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,065 shares of the real estate investment trust’s stock after purchasing an additional 5,708 shares during the quarter. Royal Bank of Canada’s holdings in Franklin Street Properties were worth $37,000 as of its most recent SEC filing. 83.03% of the stock is owned by institutional investors.
About Franklin Street Properties
Franklin Street Properties Corp. is an investment company, which specializes and focuses on the asset class of real estate. It operates through the Real Estate Operations segment, which involves in real estate rental operations, leasing, secured financing of real estate and services provided for asset management, property management, property acquisitions, dispositions and development.
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