secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001558370-23-007680
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023007680/0001558370-23-007680-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023007680/fsp-20230502x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007680

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