Franklin Street Properties Corp. (FSP) Expected to Post Quarterly Sales of $62.50 Million

Brokerages expect Franklin Street Properties Corp. (NASDAQ:FSP) to announce sales of $62.50 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Franklin Street Properties’ earnings, with the highest sales estimate coming in at $63.85 million and the lowest estimate coming in at $61.15 million. Franklin Street Properties posted sales of $66.89 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.6%. The company is scheduled to report its next earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Franklin Street Properties will report full year sales of $250.71 million for the current fiscal year, with estimates ranging from $243.72 million to $257.69 million. For the next financial year, analysts forecast that the business will post sales of $252.92 million, with estimates ranging from $244.04 million to $261.80 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Franklin Street Properties.

Separately, BidaskClub raised Franklin Street Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, February 5th.

Shares of FSP traded down $0.25 during trading hours on Friday, hitting $7.55. 5,016 shares of the stock traded hands, compared to its average volume of 353,782. Franklin Street Properties has a 1-year low of $5.87 and a 1-year high of $9.22.

About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.

Further Reading: Dollar Cost Averaging

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