Franklin Street Properties Corp. (NYSE:FSP) to Issue Quarterly Dividend of $0.01

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Friday, April 5th, Wall Street Journal reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.01 per share on Thursday, May 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, April 18th.

Franklin Street Properties has decreased its dividend by an average of 51.9% per year over the last three years. Franklin Street Properties has a dividend payout ratio of -22.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Franklin Street Properties to earn $0.25 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 16.0%.

Franklin Street Properties Trading Down 5.7 %

Shares of FSP stock opened at $1.97 on Tuesday. Franklin Street Properties has a twelve month low of $1.13 and a twelve month high of $2.72. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $2.25 and its two-hundred day moving average is $2.26. The company has a market capitalization of $203.76 million, a P/E ratio of 7.21 and a beta of 0.82.

Institutional Investors Weigh In On Franklin Street Properties

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Franklin Street Properties by 59.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 38,742 shares of the company’s stock worth $229,000 after buying an additional 14,509 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Franklin Street Properties by 19.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,795 shares of the company’s stock valued at $7,161,000 after acquiring an additional 197,433 shares during the period. Raymond James & Associates boosted its position in shares of Franklin Street Properties by 19.2% during the 1st quarter. Raymond James & Associates now owns 42,322 shares of the company’s stock worth $250,000 after purchasing an additional 6,821 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Franklin Street Properties during the 1st quarter worth $152,000. Finally, Bank of Montreal Can boosted its holdings in Franklin Street Properties by 284.6% during the first quarter. Bank of Montreal Can now owns 113,314 shares of the company’s stock worth $665,000 after buying an additional 83,851 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Saturday.

About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.