FSP Q3 2024 GAAP net loss $15.6M; occupancy falls to 70.4%; continues asset sales

FRANKLIN STREET PROPERTIES CORP /MA/

2024-Q3 EPS reported -$0.43 revenue$91,737,000

GAAP net loss of $15.6M ($0.15/sh) and $44.2M ($0.43/sh) for 3 and 9 months ended Sep 30, 2024.
FFO of $2.7M ($0.03/sh) for Q3 and $10.6M ($0.10/sh) for YTD; AFFO not disclosed.
Portfolio occupancy 70.4% at Sep 30, down from 74.0% at Dec 31, 2023; leased 364K sf YTD.
Sold Innsbrook (VA) for $31M and Pershing Park Plaza (GA) for $34M; used proceeds to repay $52.7M debt.
Total debt reduced to ~$250.3M; dividend maintained at $0.01/sh; guidance still suspended.

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