AMEX:FSP

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Franklin Street Properties

Executive Summary

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. More Details


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Franklin Street Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FSP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.2%

FSP

-0.4%

US REITs

-0.4%

US Market


1 Year Return

-51.6%

FSP

-14.3%

US REITs

18.3%

US Market

Return vs Industry: FSP underperformed the US REITs industry which returned -14.2% over the past year.

Return vs Market: FSP underperformed the US Market which returned 18.3% over the past year.


Shareholder returns

FSPIndustryMarket
7 Day6.2%-0.4%-0.4%
30 Day19.0%3.7%6.6%
90 Day-15.9%1.8%8.6%
1 Year-48.2%-51.6%-10.9%-14.3%21.0%18.3%
3 Year-50.9%-58.5%14.8%1.2%42.1%32.7%
5 Year-46.5%-60.4%40.1%12.0%85.6%64.7%

Price Volatility Vs. Market

How volatile is Franklin Street Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Franklin Street Properties undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FSP ($4.13) is trading below our estimate of fair value ($12.1)

Significantly Below Fair Value: FSP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FSP is poor value based on its PE Ratio (152.7x) compared to the US REITs industry average (34.5x).

PE vs Market: FSP is poor value based on its PE Ratio (152.7x) compared to the US market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: FSP is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: FSP is good value based on its PB Ratio (0.6x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is Franklin Street Properties forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

71.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FSP's forecast earnings growth (71.6% per year) is above the savings rate (2.2%).

Earnings vs Market: FSP's earnings (71.6% per year) are forecast to grow faster than the US market (22.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FSP's revenue (0.2% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: FSP's revenue (0.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FSP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Franklin Street Properties performed over the past 5 years?

-32.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FSP has high quality earnings.

Growing Profit Margin: FSP's current net profit margins (1.1%) are lower than last year (4.2%).


Past Earnings Growth Analysis

Earnings Trend: FSP's earnings have declined by 32% per year over the past 5 years.

Accelerating Growth: FSP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FSP had negative earnings growth (-74.4%) over the past year, making it difficult to compare to the REITs industry average (5.1%).


Return on Equity

High ROE: FSP's Return on Equity (0.4%) is considered low.


Next Steps

Financial Health

How is Franklin Street Properties's financial position?


Financial Position Analysis

Short Term Liabilities: FSP's short term assets ($82.7M) exceed its short term liabilities ($58.7M).

Long Term Liabilities: FSP's short term assets ($82.7M) do not cover its long term liabilities ($1.0B).


Debt to Equity History and Analysis

Debt Level: FSP's debt to equity ratio (136.5%) is considered high.

Reducing Debt: FSP's debt to equity ratio has increased from 97.1% to 136.5% over the past 5 years.

Debt Coverage: FSP's debt is not well covered by operating cash flow (8.1%).

Interest Coverage: FSP's interest payments on its debt are not well covered by EBIT (1.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Franklin Street Properties's current dividend yield, its reliability and sustainability?

8.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FSP's dividend (8.72%) is higher than the bottom 25% of dividend payers in the US market (1.63%).

High Dividend: FSP's dividend (8.72%) is in the top 25% of dividend payers in the US market (4.56%)


Stability and Growth of Payments

Stable Dividend: FSP's dividend payments have been volatile in the past 10 years.

Growing Dividend: FSP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.7%), FSP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FSP's dividends in 3 years are forecast to be well covered by earnings (45% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

George Carter (71 yo)

18.75yrs

Tenure

US$306,000

Compensation

Mr. George John Carter has been the Chief Executive Officer and Chairman of the Board of Franklin Street Properties Corporation since 2002. He had served as President of the Corporation from 2002 until May ...


CEO Compensation Analysis

Compensation vs Market: George's total compensation ($USD306.00K) is below average for companies of similar size in the US market ($USD1.93M).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
George Carter
Chairman & CEO18.75yrsUS$306.00k0.94%
$ 4.2m
Jeffrey Carter
President & Chief Investment Officer4.42yrsUS$740.91k0.020%
$ 87.6k
John Demeritt
Executive VP15.58yrsUS$747.47k0.039%
$ 173.4k
Scott Carter
Executive VP12.67yrsUS$702.29k0.0033%
$ 14.7k
John Donahue
Executive Vice President4.42yrsUS$680.54k0.00093%
$ 4.1k
Eriel Anchondo
Executive VP & COO5.75yrsno datano data
Georgia Touma
Assistant VP & Director of Investor Relationsno datano datano data
Julie Driscoll
Assistant VP & HR Directorno datano datano data
Leo Daley
Senior Vice President4.42yrsno datano data
William Friend
Senior Vice President4.42yrsno datano data
Andrew Klouse
Senior VP of Finance & Assistant Treasurer4.42yrsno datano data
Carol Carr
Assistant Secretary & Corporate Paralegal5.58yrsno datano data

5.0yrs

Average Tenure

50.5yo

Average Age

Experienced Management: FSP's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
George Carter
Chairman & CEO18.75yrsUS$306.00k0.94%
$ 4.2m
Kathryn O'Neil
Independent Director4.75yrsUS$112.50k0.029%
$ 128.8k
Georgia Murray
Lead Independent Director6.67yrsUS$137.50k0.053%
$ 236.7k
Dennis McGillicuddy
Independent Director18.42yrsUS$112.50k3.06%
$ 13.6m
Kenneth Hoxsie
Independent Director4.75yrsUS$112.50k0.067%
$ 298.1k
John Burke
Independent Director16.33yrsUS$127.50k0.046%
$ 202.3k
Brian Hansen
Independent Director7.92yrsUS$112.50k0.11%
$ 490.1k

7.9yrs

Average Tenure

69yo

Average Age

Experienced Board: FSP's board of directors are considered experienced (7.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FSP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Franklin Street Properties Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Franklin Street Properties Corp.
  • Ticker: FSP
  • Exchange: AMEX
  • Founded: 1997
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: US$443.265m
  • Shares outstanding: 107.33m
  • Website: https://www.fspreit.com

Number of Employees


Location

  • Franklin Street Properties Corp.
  • 401 Edgewater Place
  • Suite 200
  • Wakefield
  • Massachusetts
  • 1880
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSPAMEX (NYSE MKT LLC)YesCommon StockUSUSDJun 2005
WVHDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2005

Biography

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 oppo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 00:28
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.