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

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Friday, April 5th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be given a dividend of 0.01 per share on Thursday, May 9th. This represents a $0.04 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, April 18th.

Franklin Street Properties has decreased its dividend payment by an average of 51.9% per year over the last three years. Franklin Street Properties has a payout ratio of -22.2% meaning 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 $0.25 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 1.5 %

Shares of Franklin Street Properties stock opened at $1.94 on Wednesday. Franklin Street Properties has a 1 year low of $1.13 and a 1 year high of $2.72. The company has a market capitalization of $200.65 million, a price-to-earnings ratio of 6.79 and a beta of 0.82. The business has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 1.26.

Hedge Funds Weigh In On Franklin Street Properties

Several institutional investors and hedge funds have recently modified their holdings of the business. Diversified Trust Co bought a new position in shares of Franklin Street Properties in the third quarter worth $26,000. Quadrature Capital Ltd acquired a new position in shares of Franklin Street Properties in the 3rd quarter valued at approximately $29,000. Alpine Global Management LLC bought a new stake in shares of Franklin Street Properties during the 4th quarter worth approximately $34,000. Captrust Financial Advisors acquired a new stake in shares of Franklin Street Properties during the 2nd quarter worth approximately $38,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Franklin Street Properties in the second quarter valued at approximately $40,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Franklin Street Properties Company Profile

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.