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Franklin Street Properties Corp. (FSP) 10-Year Financial Performance & Capital Metrics

FSP • • REIT / Real Estate
Real EstateOffice REITsSunbelt & Regional Office REITsSunbelt Growth Market Focus
AboutFranklin 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. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes.Show more
  • Revenue $120M -17.6%
  • FFO -$5M -155.0%
  • FFO/Share -0.05 -154.9%
  • FFO Payout -82.83% -282.1%
  • FFO per Share -0.05 -154.9%
  • NOI Margin 43.59% -6.3%
  • FFO Margin -4.16% -166.7%
  • ROE -7.7% -18.6%
  • ROA -4.98% -24.9%
  • Debt/Assets 26.15% -24.4%
  • Net Debt/EBITDA 4.99 +0.4%
  • Book Value/Share 6.34 -8.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Healthy dividend yield of 4.4%
  • ✓Trading at only 0.1x book value

✗Weaknesses

  • ✗FFO declining 116.4% TTM
  • ✗Weak momentum: RS Rating 9 (bottom 9%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-7.06%
5Y-14.9%
3Y-16.91%
TTM-13.45%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-13.64%

EPS CAGR

10Y-
5Y-
3Y-
TTM-15.42%

ROCE

10Y Avg1.78%
5Y Avg0.04%
3Y Avg-0.24%
Latest-0.66%

Peer Comparison

Sunbelt Growth Market Focus
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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Famous Investor Metrics
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Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CUZCousins Properties Incorporated4.51B26.8589.506.71%5.98%1.21%3.27%0.65
FSPFranklin Street Properties Corp.94.36M0.91-1.78-17.57%-42.16%-7.5%0.38
CIOCity Office REIT, Inc.282.14M6.99-11.10-4.45%-75.34%-20.22%20.86%0.88

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+243.87M249.89M272.59M268.87M269.06M245.85M209.36M165.62M145.71M120.11M
Revenue Growth %-0.02%0.02%0.09%-0.01%0%-0.09%-0.15%-0.21%-0.12%-0.18%
Property Operating Expenses100.55M105.47M117.05M116.56M120.18M115.33M101.94M87.44M77.93M67.76M
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+143.32M144.41M155.53M152.31M14.47M130.52M94.44M77.69M68.76M58.66M
G&A Expenses13.29M14.13M13.47M13.07M14.47M15M15.9M13.88M14.02M13.88M
EBITDA+132.09M132.48M144.55M141.63M217.9M160.16M93.98M66.06M56.21M41.42M
EBITDA Margin %----------
Depreciation & Amortization+93.43M95.24M103.74M96.61M83.48M91.27M81.01M65.58M57.2M47.73M
D&A / Revenue %----------
Operating Income+38.67M37.23M40.81M45.01M134.41M012.97M482K-984K-6.3M
Operating Margin %----------
Interest Expense+25.43M26.55M32.39M38.37M36.76M36.03M32.27M22.81M24.32M26.42M
Interest Coverage1.52x1.40x1.26x1.17x3.66x-0.40x0.02x-0.04x-0.24x
Non-Operating Income-22.21M1.89M20.36M090.91M-68.89M-112.23M-23.62M22.53M19.78M
Pretax Income+35.45M8.8M-15.54M13.43M6.74M32.87M93.36M1.3M-47.83M-52.51M
Pretax Margin %----------
Income Tax+433K418K400K360K269K250K638K204K279K216K
Effective Tax Rate %----------
Net Income+35.01M8.38M-15.94M13.07M6.47M32.62M92.72M1.09M-48.11M-52.72M
Net Margin %----------
Net Income Growth %1.66%-0.76%-2.9%1.82%-0.5%4.04%1.84%-0.99%-44.98%-0.1%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %0.15%-0.19%-0.15%0.25%-0.18%0.38%0.4%-0.62%-0.86%-1.55%
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+0.350.08-0.150.120.060.300.870.01-0.47-0.51
EPS Growth %1.69%-0.77%-2.88%1.8%-0.5%3.97%1.9%-0.99%-45.34%-0.09%
EPS (Basic)0.350.08-0.150.120.060.300.870.01-0.47-0.51
Diluted Shares Outstanding100.19M102.84M107.23M107.23M107.23M107.3M106.67M103.34M103.36M103.51M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+1.92B2.09B1.99B1.9B1.84B1.79B1.36B1.24B1.17B946.93M
Asset Growth %-0.01%0.09%-0.05%-0.05%-0.03%-0.03%-0.24%-0.09%-0.06%-0.19%
Real Estate & Other Assets+1.54B-355.26M-303.22M1.69B-40.89M77.45M65.84M59.85M27.6M25.36M
PP&E (Net)484K313K289K197K183K1.6B1.19B1.1B891.25M835.68M
Investment Securities1000K1000K1000K1000K0001000K00
Total Current Assets+196.06M154.29M146.24M150.18M085.35M92.23M63.87M243.79M81.69M
Cash & Equivalents18.16M9.34M9.77M11.18M9.79M2.65M34.31M3.74M125.53M41.12M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets5.51M9.13M8.43M0-80.52M7.25M6.94M5.19M75.67M1.56M
Intangible Assets108.05M125.49M86.52M59.59M028.21M14.93M10.19M6.69M4.21M
Total Liabilities985.71M1.13B1.12B1.06B1.06B1.03B580.97M472.93M456.52M291.07M
Total Debt+910M1.05B1.04B988.13M969.15M938.85M480.03M413.01M404.71M247.63M
Net Debt891.84M1.04B1.03B976.95M959.36M936.2M445.72M409.28M279.18M206.51M
Long-Term Debt915.89M1.05B1.04B988.13M964.75M932.26M478.87M412.26M289.67M246.92M
Short-Term Borrowings000001000K001000K0
Capital Lease Obligations9.43M8.92M5.8M3.79M4.4M1.54M1.16M759K334K707K
Total Current Liabilities+49.49M57.26M61.04M59.18M79.4M81.03M94.2M54.01M160.61M37.61M
Accounts Payable49.49M57.26M61.04M59.18M072.06M89.49M50.37M41.88M34.07M
Deferred Revenue0-2.17B-211.04M-2.05B000000
Other Liabilities14.25M18.26M11.19M3.79M-969.15M10.27M6.75M5.91M5.83M6.27M
Total Equity+935.66M2.01B1.91B1.82B786.4M768.09M783.2M768.74M712.8M655.86M
Equity Growth %-0.04%1.14%-0.05%-0.05%-0.57%-0.02%0.02%-0.02%-0.07%-0.08%
Shareholders Equity935.66M962.04M871.29M837.63M786.4M768.09M783.2M768.74M712.8M655.86M
Minority Interest01.04B1.04B980.75M000000
Common Stock10K11K11K11K11K11K10K10K10K10K
Additional Paid-in Capital1.27B1.36B1.36B1.36B1.36B1.36B1.34B1.33B1.34B1.34B
Retained Earnings-330.8M-399.9M-497.34M-533.6M-565.73M000-622.65M0
Preferred Stock0000000000
Return on Assets (ROA)0.02%0%-0.01%0.01%0%0.02%0.06%0%-0.04%-0.05%
Return on Equity (ROE)0.04%0.01%-0.01%0.01%0%0.04%0.12%0%-0.06%-0.08%
Debt / Assets0.47%0.5%0.52%0.52%0.53%0.52%0.35%0.33%0.35%0.26%
Debt / Equity0.97x0.52x0.55x0.54x1.23x1.22x0.61x0.54x0.57x0.38x
Net Debt / EBITDA6.75x7.82x7.14x6.90x4.40x5.85x4.74x6.20x4.97x4.99x
Book Value per Share9.3419.5117.8016.967.337.167.347.446.906.34

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+102.89M94.37M95.93M80.2M81.92M68.45M36.36M15.23M17.87M8.99M
Operating CF Growth %-0%-0.08%0.02%-0.16%0.02%-0.16%-0.47%-0.58%0.17%-0.5%
Operating CF / Revenue %----------
Net Income35.01M8.38M-15.94M13.07M6.47M32.62M92.72M1.09M-48.11M-52.72M
Depreciation & Amortization93.27M94.75M103.74M96.61M93.79M91.27M81.01M65.58M57.2M47.74M
Stock-Based Compensation-32K58K-143K-598K337K337K338K394K315K270K
Other Non-Cash Items-8.28M-12.96M-15.34M-50K-15.5M-13.73M-12.2M-31.84M11.67M15.35M
Working Capital Changes5.29M2.35M-642K-22.64M-3.11M-95K-13.27M-19.99M-3.21M-1.66M
Cash from Investing+-38.1M-244.97M-5.09M25.64M-19.62M11.04M505.47M74.04M113.64M70.28M
Acquisitions (Net)00074.93M-49.66M0-570.31M03.05M0
Purchase of Investments-101.71M-275.63M00-2.4M0-3M000
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K01000K
Other Investing60.53M65.15M49.21M1.77M51.13M0570.31M0142.22M0
Cash from Financing+-54.14M141.77M-90.4M-104.49M-63.69M-85.13M-505.24M-123.39M-10.25M-164.47M
Dividends Paid-76.14M-77.48M-81.5M-49.33M-38.6M-38.63M-38.49M-53.99M-4.13M-4.14M
Common Dividends-76.14M-77.48M-81.5M-49.33M-38.6M-38.63M-38.49M-53.99M-4.13M-4.14M
Debt Issuance (Net)1000K1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Share Repurchases000000-18.24M-4.84M00
Other Financing0-4.26M-6.9M-2.16M-83K00-2.56M1.88M-5.66M
Net Change in Cash+10.64M-8.83M438K1.36M-1.39M-5.64M36.6M-34.12M121.25M-85.2M
Exchange Rate Effect0000000000
Cash at Beginning7.52M18.16M9.34M9.82M11.18M9.79M4.15M40.75M6.63M127.88M
Cash at End18.16M9.34M9.77M11.18M9.79M4.15M40.75M6.63M127.88M42.68M
Free Cash Flow+4.25M-215.75M41.62M29.14M11.17M-9.47M-28.47M-39.68M-13.77M-16.23M
FCF Growth %-0.95%-51.73%1.19%-0.3%-0.62%-1.85%-2.01%-0.39%0.65%-0.18%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share1.281.010.821.020.841.151.630.650.09-0.05
FFO Payout Ratio59.28%74.77%92.82%44.97%42.91%31.18%22.16%80.97%45.49%-82.83%
NOI Margin58.77%57.79%57.06%56.65%55.33%53.09%51.31%47.2%46.51%43.59%
Net Debt / EBITDA6.75x7.82x7.14x6.90x4.40x5.85x4.74x6.20x4.97x4.99x
Debt / Assets47.36%50.06%52.33%52.06%52.6%52.36%35.19%33.26%34.61%26.15%
Interest Coverage1.52x1.40x1.26x1.17x3.66x-0.40x0.02x-0.04x-0.24x
Book Value / Share9.3419.5117.816.967.337.167.347.446.96.34
Revenue Growth-2.33%2.47%9.08%-1.36%0.07%-8.63%-14.84%-20.89%-12.02%-17.57%

Revenue by Segment

2018201920202021202220232024
Real Estate, Other------32K
Real Estate, Other Growth-------
Related party revenue: Other---77K21K261K-
Related party revenue: Other Growth-----72.73%1142.86%-
Related party revenue: Management fees and interest income from loans---1.7M1.85M--
Related party revenue: Management fees and interest income from loans Growth----9.12%--
Revenue From Management Fees And Interest Income From Loans Related Party5.06M3.52M1.61M----
Revenue From Management Fees And Interest Income From Loans Related Party Growth--30.51%-54.22%----
Real Estate Other32K21K31K----
Real Estate Other Growth--34.38%47.62%----
Rental Real Estate263.78M265.53M-----
Rental Real Estate Growth-0.66%-----

Frequently Asked Questions

Growth & Financials

Franklin Street Properties Corp. (FSP) reported $109.5M in revenue for fiscal year 2024. This represents a 14% decrease from $126.8M in 2011.

Franklin Street Properties Corp. (FSP) saw revenue decline by 17.6% over the past year.

Franklin Street Properties Corp. (FSP) reported a net loss of $46.2M for fiscal year 2024.

Dividend & Returns

Yes, Franklin Street Properties Corp. (FSP) pays a dividend with a yield of 4.40%. This makes it attractive for income-focused investors.

Franklin Street Properties Corp. (FSP) has a return on equity (ROE) of -7.7%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Franklin Street Properties Corp. (FSP) generated Funds From Operations (FFO) of $-1.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Franklin Street Properties Corp. (FSP) offers a 4.40% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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