Franklin Street Properties (FSP) Q1 FFO and Revenues Lag Estimates

By Zacks7 days ago

Franklin Street Properties (FSP) came out with quarterly funds from operations (FFO) of $0.17 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to FFO of $0.20 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of -5.56%. A quarter ago, it was expected that this hybrid real estate investment trust would post FFO of $0.19 per share when it actually produced FFO of $0.16, delivering a surprise of -15.79%.

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Over the last four quarters, the company has not been able to surpass consensus FFO estimates.

Franklin Street, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $59.04 million for the quarter ended March 2021, missing the Zacks Consensus Estimate by 1.16%. This compares to year-ago revenues of $62.98 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

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