---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-007680"
form_type: "8-K"
ticker: "FSP"
cik: "0001031316"
company_name: "FRANKLIN STREET PROPERTIES CORP /MA/"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:27:48.672678+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-007680
- form_type: 8-K
- ticker: FSP
- cik: 0001031316
- company_name: FRANKLIN STREET PROPERTIES CORP /MA/
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031316/000155837023007680/0001558370-23-007680-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031316/000155837023007680/fsp-20230502x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-007680
- JSON: https://secwatch.observer/filing/0001558370-23-007680.json
- Plain text: https://secwatch.observer/filing/0001558370-23-007680.txt

## Key facts
- Earnings Releases
  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
  source text: Franklin Street Properties Corp. (the “Registrant”) announced its financial results for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031316/000155837023007680/0001558370-23-007680-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.