Franklin Street Properties: No Dividends And Wall Of Debt [Seeking Alpha]
Franklin Street Properties Corp. (FSP)
NASDAQ:AMEX Investor Relations:
franklinstreetproperties.com
Company Research
Source: Seeking Alpha
The office REIT is currently trading significantly below its $6.88 book value per share. 2024 is set to see $311 million of debt mature which will mean more asset sales if FSP is unable to refinance. Office REITs are in a battle for their lives, and their investors are faced with a conundrum in picking the winners in an increasingly Darwinistic space. The headwinds are clear; a Fed funds rate at a more than two-decade high and rising office vacancies as work-from-home becomes a perpetual feature of the post-pandemic world of work. Rolling layoffs have also afflicted US corporates as they come to terms with more expensive debt and the specter of a recession. These three factors have aggregated to form the perfect storm of headwinds for office REITs like Franklin Street Properties ( NYSE: FSP ). The $260 million REIT is the owner of Class B office properties across six states but with a concentration on Texas and Denver, Colorado. FSP is not an income play, the REIT last paid out
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FSP
News
- Franklin Street Properties: Positive Debt Extensions And Low Multiple (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- Franklin Street Properties: Price Correction Creates Opportunity [Seeking Alpha]Seeking Alpha
- Franklin Street Properties Corp. to Announce First Quarter 2024 ResultsBusiness Wire
- Franklin Street Properties Corp. (NYSE: FSP) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Franklin Street Properties Corp. (NYSE: FSP) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
FSP
Earnings
- 2/26/24 - In-Line
FSP
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- FSP's page on the SEC website