FSP reports Q4 GAAP net loss of $8.5M; portfolio occupancy down to 70.3%

FRANKLIN STREET PROPERTIES CORP /MA/

2024-FY EPS reported -$0.51 revenue$120,112,000

GAAP net loss of $8.5M ($0.08/diluted share) for Q4 2024; full-year loss $52.7M ($0.51/share).
FFO of $2.7M ($0.03/share) for Q4, $13.3M ($0.13/share) for full year 2024.
Portfolio leased 70.3% at Dec 31, 2024, vs 74.0% a year ago; 616,000 sq ft leased in 2024.
Sold Pershing Park Plaza for $34M in Oct 2024; repaid $27.4M debt, reducing total debt to $250.3M.
Quarterly dividend maintained at $0.01/share; guidance remains suspended.

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