Franklin Street Properties reports Q4 net loss, company suspends payment of quarterly dividends
Overview
Real estate investment trust's Q4 net loss was $7.3 mln
Company closed $320 mln secured credit facility, repaid $249 mln debt
Company suspended dividend payments to preserve $4.1 mln cash annually
Outlook
Company sees encouraging signs of stabilization and return-to-office trends
Company continues strategic review to explore ways to maximize shareholder value
Result Drivers
CREDIT FACILITY - FSP closed a $320 mln secured credit facility to repay $249 mln debt, reducing near-term financial uncertainty
Company press release: ID:nBw7gK4Yza
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $26.04 mln |
|
Q4 Net Income |
| -$7.3 mln |
|
Q4 Basic EPS |
| -$0.07 |
|
Q4 Real Estate Operating Expenses |
| $10.57 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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