Franklin Street Properties Corp. (FSP), a company based in Wakefield, Massachusetts, specializes in acquiring and developing office real estate. Its investment focus ...
Franklin Street Properties Corp. (FSP) is a Maryland-incorporated REIT that began operations in 1997 in Wakefield, Massachusetts, and became publicly traded on the NYSE Arca (AMEX) in June 2005 under the symbol FSP. The company specializes in the acquisition, development, and management of office real estate, with a strategic focus ...Franklin Street Properties Corp. (FSP) is a Maryland-incorporated REIT that began operations in 1997 in Wakefield, Massachusetts, and became publicly traded on the NYSE Arca (AMEX) in June 2005 under the symbol FSP. The company specializes in the acquisition, development, and management of office real estate, with a strategic focus on central business districts (CBDs) and 'infill' locations—dense urban areas—in the U.S. Sunbelt and Mountain West regions, as well as carefully selected emerging markets. FSP adopts a value-oriented investment approach, targeting properties that provide potential for long-term appreciation and stable current income, while structuring its portfolio to qualify as a REIT under federal tax law. As of the latest data, FSP has a market capitalization of approximately $45.8 million, with a stock price of $0.44, and employs 28 full-time employees. The company's financial metrics indicate a challenging period, with negative net income and return on equity, though it maintains a reasonable liquidity position with a current ratio of 2.53. FSP's real estate operations include property acquisitions and dispositions, leasing, development, and property management. The company is led by CEO George John Carter, who also serves as Chairman of the Board since 2002, with Jeffrey Carter as President and Chief Investment Officer. The company's portfolio includes office properties in metropolitan areas, and it generates revenue through rental income. Despite recent financial headwinds, FSP remains committed to its investment strategy, focusing on long-term growth and shareholder value. The company's website (fspreit.com) provides investor relations information, including quarterly results and property details. With a focus on urban office spaces, FSP is positioned within the REIT - Office industry, and its performance is influenced by trends in office demand, urban development, and interest rates. The company's dividend policy, as reflected in a recent dividend of $0.04 per share, indicates a commitment to returning value to shareholders, albeit with a payout ratio that is currently negative due to losses. Moving forward, FSP aims to navigate the evolving office market by leveraging its expertise in location selection and asset management to drive long-term value. Given its small size, FSP operates in a niche segment, competing with larger office REITs but differentiating through its focus on infill locations. The company's financial health, as indicated by a debt-to-equity ratio of 0.44, suggests moderate leverage, and its operating cash flow coverage of 0.94 times debt service indicates it can meet its obligations. As of 2025, FSP continues to adapt to market conditions, focusing on portfolio optimization and cost management to improve profitability and sustain its REIT status.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$107.2M
-10.8%
+0.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-45.0M
+14.7%
-74.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+43.8%
+0.4%
+0.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-7.6%
-44.4%
-7.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-42.0%
+4.4%
-73.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-12.7M
+22.0%
+173.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-11.8%
+12.5%
+172.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
40.9%
+8.5%
+3.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.43x
+11.9%
+4.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.