Earnings ·
Franklin Street Reports Q3 GAAP net loss of $9.1M and suspends dividends
FSPFranklin Street Properties Corp
Franklin Street Properties Corp. reported a third-quarter GAAP net loss of $9.1 million, or $0.09 per share, compared to an $8.3 million loss in the prior-year period. Funds from operations (FFO) were $1.4 million, or $0.01 per share. The company sold its Greenwood Plaza property for approximately $19.4 million and used $8.5 million of proceeds to repay debt. General and administrative expenses decreased by $2.6 million year-over-year due to lower personnel costs. Portfolio occupancy stood at 66.2% as of September 30, 2026. The board suspended quarterly dividends in March 2026 to preserve capital for leasing efforts and strategic alternatives.