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Franklin Street Properties Corp. — Third Quarter 2026 Earnings Summary

  • GAAP net loss widened to $9.1 million ($0.09/share) for Q3 2026 from $8.3 million ($0.08/share) in 2025, while FFO declined to $1.4 million ($0.01/share) from $2.3 million ($0.02/share); revenue fell 8.8% year-over-year to $24.9 million for the quarter.
  • The Board suspended quarterly dividends in March 2026 to preserve approximately $4.1 million annually for leasing efforts, with reinstatement subject to quarterly reassessment.
  • Management plans to actively pursue asset and subportfolio sales in Q4 2026, following the July 2026 sale of Greenwood Plaza for $19.4 million which generated $8.9 million in retained cash.
  • Portfolio occupancy decreased to 66.2% from 68.9% at year-end 2025 due to lease expirations exceeding new signings, though weighted average GAAP base rent on new leases rose 11.5% to $33.57 per square foot.
  • Total liabilities decreased to $282.6 million as of September 30, 2026, while cash and equivalents increased to $34.9 million, supported by net cash provided by operating activities of $4.7 million for the nine-month period.
Company
FRANKLIN STREET PROPERTIES CORP
Sector
Real Estate
Industry
REIT - Office