Overview

* Franklin Street Properties ( FSP ) Q2 net loss at $7.9 mln, FFO at $2.5 mln

* Revenue for Q2 falls compared to last year

* Company continuesexplore strategic alternatives, including potential sales and refinancing of existing indebtedness

Outlook

* Company suspends Net Income, FFO, and property disposition guidance due to economic uncertainty

* Company plans to use net proceeds from property sales for debt repayment

* Back-to-office initiatives expected to positively impact leasing and occupancy efforts

Result Drivers

* OCCUPANCY DECLINE - Occupancy rate fell to 69.1% due to lease expirations

* BACK-TO-OFFICE INITIATIVES - Prospective leasing activity encouraged by employers' return-to-office policies, notably in Target Corp in Minneapolis

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $26.72

Revenue mln

Q2 Net -$7.88

Income mln

Q2 Basic -$0.08

EPS

Q2 $0.01

Dividend

Q2 Real $10.70

Estate mln

Operatin

g

Expenses

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the commercial reits peer group is "hold"

* Wall Street's median 12-month price target for Franklin Street Properties Corp ( FSP ) is $1.75, about 4.6% above its July 28 closing price of $1.67

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)