FSP Q1 GAAP net income $2.4M; portfolio occupancy drops to 73.9%

FRANKLIN STREET PROPERTIES CORP /MA/

2024-Q1 EPS reported $0.02 revenue$37,767,000

GAAP net income $2.4M ($0.02/sh); FFO $8.4M ($0.08/sh).
Sold Elk Grove, IL property for $29.1M (gain $8.4M); proceeds used for debt reduction.
Direct portfolio 73.9% leased at Mar 31 vs 75.6% at Dec 31; leased 129k sq ft in Q1.
Post-Q1 leased 112k sq ft; occupancy rose to 75.6% as of Apr 30.
Dividend $0.01/sh; guidance suspended on dispositions and earnings.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FRANKLIN STREET PROPERTIES CORP /MA/ reported the three months ended March 31, 2023 results: net income $2.4 million, EPS $0.02 per basic and diluted share.

Period: the three months ended March 31, 2023
Net income: $2.4 million
EPS: $0.02 per basic and diluted share
Result: reported results

Exact text from the filing

Franklin Street Properties Corp. (the “Registrant”) announced its financial results for the three months ended March 31, 2023.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

FRANKLIN STREET PROPERTIES CORP /MA/ filing history →

Source: SEC EDGAR

accession 0001558370-23-007680

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