Franklin Street Properties Corp. FSP
Franklin Street Properties Corp. (FSP), a company based in Wakefield, Massachusetts, specializes in acquiring and developing office real estate. Its investment focus centers on properties within central business districts (CBDs) and other dense urban "infill" locations across the U.S. Sunbelt and Mountain West areas, as well as carefully selected emerging markets. FSP adopts a value-oriented investment approach, aiming to secure assets that promise both significant long-term growth and capital appreciation, alongside reliable current income. As a Maryland corporation, the firm is structured and managed to meet the necessary criteria for classification as a Real Estate Investment Trust (REIT) under federal income tax law.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-09 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-28) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model FSP yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $107.16M | $-44.96M | $42.61M | $22.56M | $3.75M |
| 2024 | $120.11M | $-52.72M | $47.73M | $21.64M | $8.99M |
| 2023 | $145.71M | $-48.11M | $57.20M | $33.68M | $17.87M |
| 2022 | $165.62M | $1.09M | $65.58M | $89.69M | $15.23M |
| 2021 | $209.36M | $92.72M | $81.01M | $206.21M | $36.36M |
| 2020 | $245.85M | $32.62M | $91.27M | $160.16M | $68.45M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-01-23 | 2026-01-23 | 2026-02-12 | 2026-01-09 | $0.01 | Quarterly |
| 2025-10-17 | 2025-10-17 | 2025-11-06 | 2025-10-03 | $0.01 | Quarterly |
| 2025-07-25 | 2025-07-25 | 2025-08-14 | 2025-07-11 | $0.01 | Quarterly |
| 2025-04-17 | 2025-04-17 | 2025-05-08 | 2025-04-07 | $0.01 | Quarterly |
| 2025-01-24 | 2025-01-24 | 2025-02-13 | 2025-01-10 | $0.01 | Quarterly |
| 2024-10-18 | 2024-10-18 | 2024-11-07 | 2024-10-04 | $0.01 | Quarterly |
| 2024-07-19 | 2024-07-19 | 2024-08-08 | 2024-07-05 | $0.01 | Quarterly |
| 2024-04-18 | 2024-04-19 | 2024-05-09 | 2024-04-05 | $0.01 | Quarterly |
| 2024-01-25 | 2024-01-26 | 2024-02-15 | 2024-01-12 | $0.01 | Quarterly |
| 2023-10-19 | 2023-10-20 | 2023-11-09 | 2023-10-06 | $0.01 | Quarterly |
| 2023-07-20 | 2023-07-21 | 2023-08-10 | 2023-07-07 | $0.01 | Quarterly |
| 2023-04-20 | 2023-04-21 | 2023-05-11 | 2023-04-07 | $0.01 | Quarterly |
| 2023-01-26 | 2023-01-27 | 2023-02-16 | 2023-01-13 | $0.01 | Quarterly |
| 2022-10-20 | 2022-10-21 | 2022-11-10 | 2022-10-07 | $0.01 | Quarterly |
| 2022-07-18 | 2022-07-19 | 2022-08-11 | 2022-07-05 | $0.01 | Quarterly |
| 2022-04-13 | 2022-04-15 | 2022-05-05 | 2022-04-01 | $0.09 | Quarterly |
| 2022-01-27 | 2022-01-28 | 2022-02-17 | 2022-01-14 | $0.09 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-12 | 2021-12-03 | $0.32 | Special |
| 2021-10-21 | 2021-10-22 | 2021-11-11 | 2021-10-08 | $0.09 | Quarterly |
| 2021-07-15 | 2021-07-16 | 2021-08-05 | 2021-07-06 | $0.09 | Quarterly |
| 2021-04-15 | 2021-04-16 | 2021-05-07 | 2021-04-02 | $0.09 | Quarterly |
| 2021-01-28 | 2021-01-29 | 2021-02-18 | 2021-01-15 | $0.09 | Quarterly |
| 2020-10-22 | 2020-10-23 | 2020-11-12 | 2020-10-09 | $0.09 | Quarterly |
| 2020-07-16 | 2020-07-17 | 2020-08-06 | 2020-07-06 | $0.09 | Quarterly |
Coverage (payout of operating cash flow): 110.46%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — FSP
Franklin Street Properties Corp. Announces First Quarter 2026 Results
Franklin Street Properties Corp. to Announce First Quarter 2026 Results
Critical Analysis: Franklin Street Properties (NYSE:FSP) vs. Jernigan Capital (NASDAQ:JCAP)
Franklin Street Properties Corp. Announces Expansion of Strategic Alternatives Process
When No One Shows Up, Opportunity Does: The Office REIT Reset
Franklin Street Properties (NYSE:FSP) vs. Medical Properties Trust (NYSE:MPT) Financial Survey
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.