Franklin Street Properties Corp. (NYSEAMERICAN:FSP) Declares $0.09 Quarterly Dividend
Franklin Street Properties Corp. (NYSEAMERICAN:FSP) announced a quarterly dividend on Tuesday, July 7th, Wall Street Journal reports. Shareholders of record on Friday, July 17th will be given a dividend of 0.09 per share by the real estate investment trust on Thursday, August 6th. This represents a $0.36 annualized dividend and a yield of 7.20%. The ex-dividend date is Thursday, July 16th.
Franklin Street Properties has a dividend payout ratio of -900.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
FSP stock opened at $5.00 on Tuesday. Franklin Street Properties has a 52-week low of $3.79 and a 52-week high of $8.97.
Several research analysts have recently commented on the company. Robert W. Baird lifted their target price on Franklin Street Properties from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Zacks Investment Research lowered Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Thursday, May 28th. TheStreet lowered Franklin Street Properties from a “c-” rating to a “d+” rating in a research report on Wednesday, May 13th. Finally, B. Riley reduced their price objective on Franklin Street Properties from $9.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $7.75.
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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