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

Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) declared a quarterly dividend on Wednesday, January 18th, Wall Street Journal reports. Stockholders of record on Friday, January 27th will be paid a dividend of 0.01 per share by the real estate investment trust on Thursday, February 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 26th.

Franklin Street Properties has decreased its dividend by an average of 17.8% per year over the last three years. Franklin Street Properties has a dividend payout ratio of -14.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Franklin Street Properties to earn $0.31 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 12.9%.

Franklin Street Properties Price Performance

Shares of NYSEAMERICAN:FSP opened at $2.88 on Wednesday. Franklin Street Properties has a 1 year low of $2.34 and a 1 year high of $6.14. The stock has a market cap of $297.33 million, a price-to-earnings ratio of 7.30 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.47. The company’s 50 day simple moving average is $3.24.

Insider Buying and Selling at Franklin Street Properties

In other news, Director Brian N. Hansen acquired 50,125 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were bought at an average price of $2.74 per share, for a total transaction of $137,342.50. Following the acquisition, the director now owns 515,125 shares of the company’s stock, valued at approximately $1,411,442.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Franklin Street Properties by 12.1% during the 1st quarter. State Street Corp now owns 5,238,359 shares of the real estate investment trust’s stock worth $30,906,000 after purchasing an additional 567,314 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Franklin Street Properties by 176.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 758,672 shares of the real estate investment trust’s stock worth $3,163,000 after purchasing an additional 484,177 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Franklin Street Properties by 946.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 356,971 shares of the real estate investment trust’s stock worth $2,106,000 after purchasing an additional 322,856 shares during the last quarter. Renaissance Technologies LLC grew its position in Franklin Street Properties by 18.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,637,537 shares of the real estate investment trust’s stock valued at $9,661,000 after acquiring an additional 254,500 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Franklin Street Properties by 19.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,213,795 shares of the real estate investment trust’s stock valued at $7,161,000 after acquiring an additional 197,433 shares in the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

About Franklin Street Properties

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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.