Added to YB: 2026-03-17
Pitch date: 2026-03-14
FSP [neutral]
Franklin Street Properties Corp.
-5.38%
current return
Author Info
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Company Info
Franklin Street Properties Corp. is focused on infill and central business district (CBD) office properties in the U.
Market Cap
$64.7M
Pitch Price
$0.63
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.53
P/E
-1.44
EV/Sales
2.64
Sector
Office REITs
Category
turnaround
Franklin Street Properties (FSP) Update
FSP (update): Secured $320M TPG credit facility at 9% (13% yr 2), 6% OID, 4% exit fee to refinance $249M debt. Brutal terms crush upside: best case $2.48/share, worst $0.46 vs $0.62 current. NOI $45.8M barely covers $25M annual interest. Denver overhang persists w/ fire-sale risk. High G&A eats equity value. Author likely exiting despite activist shareholder Stabosz maintaining conviction. Relief rally failed to materialize post-refinancing.
Read full article (6 min)