secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2021-11-08T23:59:59+00:00
Accession:  0001558370-21-015047
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSP Q3 2021: GAAP EPS $0.04, FFO $0.14; debt reduced 53% to ~$475M
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- GAAP net income $4.5M ($0.04/share); FFO $14.8M ($0.14/share); AFFO $0.04/share.
- Total debt reduced ~53% from $1.0B to ~$475M as of Oct 25, 2021; repaid $90M in Q3.
- Sold 8 properties in 2021 for ~$563M at avg 5.8% cap rate; raised disposition guidance to $563M-$600M.
- Leased 329K sq ft in Q3, incl 100K sq ft new lease at Pershing Park; portfolio 78.8% leased.
- Repurchased 1.8M shares for $8.2M in Q3; anticipates special dividend in Dec 2021/Jan 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837021015047/0001558370-21-015047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837021015047/fsp-20211108x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-015047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer