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Franklin Street Properties Corp (FSP)



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Upturn Advisory Summary
09/17/2025: FSP (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $2
1 Year Target Price $2
0 | Strong Buy |
0 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -21.9% | Avg. Invested days 30 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 173.16M USD | Price to earnings Ratio - | 1Y Target Price 2 |
Price to earnings Ratio - | 1Y Target Price 2 | ||
Volume (30-day avg) 1 | Beta 0.96 | 52 Weeks Range 1.34 - 2.17 | Updated Date 09/17/2025 |
52 Weeks Range 1.34 - 2.17 | Updated Date 09/17/2025 | ||
Dividends yield (FY) 2.38% | Basic EPS (TTM) -0.51 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -47.78% | Operating Margin (TTM) -7.8% |
Management Effectiveness
Return on Assets (TTM) -0.56% | Return on Equity (TTM) -8.18% |
Valuation
Trailing PE - | Forward PE 256.41 | Enterprise Value 392089867 | Price to Sales(TTM) 1.55 |
Enterprise Value 392089867 | Price to Sales(TTM) 1.55 | ||
Enterprise Value to Revenue 3.5 | Enterprise Value to EBITDA 22.72 | Shares Outstanding 103690000 | Shares Floating 75821487 |
Shares Outstanding 103690000 | Shares Floating 75821487 | ||
Percent Insiders 24.52 | Percent Institutions 66.62 |
Upturn AI SWOT
Franklin Street Properties Corp

Company Overview
History and Background
Franklin Street Properties Corp. (FSP) was founded in 1997. It is a real estate investment trust (REIT) focused on acquiring, owning, developing, and managing high-quality office properties, primarily located in the U.S. Southeast and Southwest. Originally a smaller entity, FSP has grown through strategic acquisitions and development projects.
Core Business Areas
- Office Property Ownership: Acquisition, ownership, and management of Class A and B office buildings. Lease office space to commercial tenants in urban markets in the Sun Belt.
- Property Management: Directly manages acquired properties. These services include rent collection, tenant relations, and property maintenance.
Leadership and Structure
George J. Carter serves as Chairman and Chief Executive Officer. The organizational structure includes departments for acquisitions, property management, finance, and legal, overseen by a board of directors.
Top Products and Market Share
Key Offerings
- Office Space Leasing: Leasing office space to a diverse range of tenants. Competitors: Boston Properties, Highwoods Properties. Market Share data not available, this is a fragmented, geographically specific market.
Market Dynamics
Industry Overview
The office REIT industry is undergoing a period of volatility influenced by remote work trends, interest rate hikes, and economic uncertainty. Demand is shifting towards newer, amenity-rich buildings.
Positioning
Franklin Street Properties Corp. focuses on the Sun Belt markets. Their competitive advantage is potentially tied to specific local market knowledge, but faces broader headwinds in the commercial real estate sector. Company is small compared to competitors.
Total Addressable Market (TAM)
The total addressable market for office space leasing is very large, in the hundreds of billions of dollars, globally. FSP's focus on specific Sun Belt markets means they target a fraction of this overall TAM. Precise TAM figures for their target markets are not publicly available. FSP is a small player in a massive market.
Upturn SWOT Analysis
Strengths
- Focus on Sun Belt markets
- Direct property management
- Experienced leadership
- Established network
Weaknesses
- High debt levels
- Concentration of assets in a few markets
- Sensitivity to economic downturns
- Small market capitalization
Opportunities
- Acquisition of distressed properties
- Development of new Class A office space
- Expansion into new Sun Belt markets
- Capitalizing on trends for amenity-rich spaces
Threats
- Rising interest rates
- Economic recession
- Increased competition from larger REITs
- Shift to remote work impacting office demand
Competitors and Market Share
Key Competitors
- BXP
- HIW
- SLG
Competitive Landscape
Franklin Street Properties Corp. is much smaller than competitors, with a correspondingly small amount of the market share. Competitive disadvantages stem from the small market capitalization. Its advantages may be geographic concentration and local-market expertise.
Growth Trajectory and Initiatives
Historical Growth: Historical growth data is unavailable without specific dates.
Future Projections: Future projections are unavailable without specific analyst data.
Recent Initiatives: Recent initiatives data are unavailable.
Summary
Franklin Street Properties Corp. is a small REIT focused on Sun Belt office properties, currently facing challenging market conditions. It faces risks including rising interest rates and shifts in office demand, while opportunities may arise from distressed asset acquisitions and expansion. The company's high debt and small size are significant weaknesses, and its success depends on navigating the challenging macroeconomic environment.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Market research reports
- Financial news outlets
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Market conditions are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Franklin Street Properties Corp
Exchange NYSE MKT | Headquaters Wakefield, MA, United States | ||
IPO Launch date 2005-06-02 | Chairman & CEO Mr. George John Carter | ||
Sector Real Estate | Industry REIT - Office | Full time employees 28 | Website https://www.fspreit.com |
Full time employees 28 | Website https://www.fspreit.com |
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP is focused on long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. FSP's real estate operations include property acquisitions and dispositions, short-term financing, leasing, development and asset management. As of March 31, 2025, the Company owned a portfolio of real estate consisting of 14 owned properties and one consolidated Sponsored REIT. The Company may also pursue, on a selective basis, the sale of its properties in order to take advantage of the value creation and demand for its properties, for geographic, property specific reasons or for other general corporate purposes.

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