Franklin Street Properties Corp. (FSP)

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Franklin Street Properties Corp.

FSP • CIK 0001031316

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Gain (Loss) on Extinguishment of Debt	$-106	$-1,042	$-12	$-1,277
Variable Interest Entity, Initial Consolidation, Gain (Loss)	$394	$394	$394	$394
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$-23,384	$-20,826	$-12,902	$-12,902
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	—	$-52,507	$-44,771	$-32,861
Income Tax Expense (Benefit)	$279	$216	$189	$191
Net Income (Loss) Available to Common Stockholders, Basic	$-48,110	$-52,723	$-44,960	$-33,052
Weighted Average Number of Shares Outstanding, Basic	103,357,000	103,510,000	103,640,000	103,763,000
Operating Lease, Lease Income	$145,446	$120,080	$107,162	$107,162
Revenues	$145,707	$120,112	$107,162	$106,280
Cost of Goods and Services Sold	$50,732	$45,043	$42,040	$42,235
Real Estate Taxes and Insurance	$27,200	$22,716	$18,211	$17,085
Depreciation, Depletion and Amortization, Nonproduction	$54,738	$44,774	$42,609	$42,365
General and Administrative Expense	$14,021	$13,884	$12,427	$11,612
InterestExpenseOperating	—	$26,424	$24,718	$25,839
Costs and Expenses	$171,009	$152,841	$140,005	$139,136

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Land	$110,298	$105,298	$98,883	$98,882
Investment Building and Building Improvements	$1,133,971	$1,096,265	$1,091,728	$1,094,771
Finite-Lived Intangible Assets, Net	$6,694	$4,205	$2,490	$2,080
Fixtures and Equipment, Gross	$12,904	$11,053	$11,572	$11,562
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$127,880	$42,683	$30,571	$23,753
Real Estate Investment Property, at Cost	$1,257,173	$1,212,616	$1,202,183	$1,205,215
Accounts Receivable, after Allowance for Credit Loss	$2,191	$1,283	$471	$1,345
Real Estate Investment Property, Accumulated Depreciation	$366,349	$377,708	$408,461	$416,644
Deferred Rent Receivables, Net	$40,397	$37,727	$38,744	$38,670
Real Estate Investment Property, Net	$890,824	$834,908	$793,722	$788,571
Prepaid Expense and Other Assets	$4,239	$3,114	$4,080	$4,322
Property, Plant and Equipment, Net	$123	$70	$136	$124
Deferred Costs, Leasing, Net	$23,664	$22,941	$22,670	$22,921
Assets	$1,169,330	$946,931	$892,884	$881,786
Unsecured Debt	$114,707	$124,491	$125,555	$125,555
Senior Notes	$199,670	$122,430	$122,686	$122,686
Accounts Payable and Accrued Liabilities	$41,879	$34,067	$28,724	$26,391
Employee-related Liabilities	$3,644	$3,097	$2,394	$234
Security Deposit Liability	$6,204	$6,237	$6,198	$6,186
Operating Lease, Liability	$334	$707	$316	$1,002
Off-market Lease, Unfavorable	$87	$45	$34	$33
Liabilities	$456,525	$291,074	$285,907	$285,373
Common Stock, Value, Issued	$10	$10	$10	$10
Additional Paid in Capital, Common Stock	$1,335,091	$1,335,361	$1,335,586	$1,335,586
Accumulated Distributions in Excess of Net Income	$622,651	$679,514	$728,619	$739,183
Stockholders' Equity Attributable to Parent	$712,805	$655,857	$606,977	$596,413
Finite-Lived Intangible Assets, Accumulated Amortization	$20,413	$13,613	$14,648	$15,058
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$1,020	$1,073	$1,047	$1,059
Deferred Costs, Leasing, Accumulated Amortization	$16,008	$14,195	$14,571	$14,694
Unamortized Debt Issuance Expense	$293	$2,220	$441	$7,400
Preferred Stock, Shares Authorized	20,000,000	20,000,000	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	180,000,000	180,000,000	180,000,000	180,000,000
Common Stock, Shares, Issued	103,430,353	103,566,715	103,690,340	103,690,340

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-48,110	$-52,723	$-44,960	$-33,052
Increase (Decrease) in Deferred Leasing Fees	$7,575	$6,143	$4,227	$5,067
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$121,248	$-85,197	$-12,112	$-7,806
Net Cash Provided by (Used in) Operating Activities	$17,866	$8,987	$3,753	$4,082
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$127,880	$42,683	$30,571	$22,765
Depreciation, Depletion and Amortization	$57,240	$47,742	$45,330	$45,421
Payments to Acquire Property, Plant, and Equipment	$31,637	$25,213	$16,415	$14,657
Amortization of above and below Market Leases	$-44	$-17	$-17	$-17
Share-based Payment Arrangement, Noncash Expense	$315	$270	$225	$225
Proceeds from Sale of Property, Plant, and Equipment	$142,225	$95,497	$6,109	$6,109
Net Cash Provided by (Used in) Investing Activities	$113,636	$70,284	$-10,306	$-8,548
Gain (Loss) on Extinguishment of Debt	$-106	$-1,042	$-12	$-1,277
Variable Interest Entity, Initial Consolidation, Gain (Loss)	$394	$394	$394	$394
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$-23,384	$-20,826	$-12,902	$-12,902
Increase (Decrease) in Accounts Receivable	$-10	$-908	$-812	$-117
Payments of Ordinary Dividends, Common Stock	$4,133	$4,140	$4,145	$4,146
Straight Line Rent	$-625	$-1,970	$-147	$-298
Payments for (Proceeds from) Hedge, Financing Activities	—	$-4,206	$-4,206	$-4,206
Proceeds from Lines of Credit	$77,000	$77,000	$77,000	$77,000
Increase (Decrease) in Prepaid Expense and Other Assets	$-382	$-355	$593	$-80
Repayments of Lines of Credit	$35,000	$22,667	$22,667	$22,667
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$-2,709	$-3,708	$-3,982	$-2,650
Repayments of Unsecured Debt	$50,000	$55,622	$716	$126,634
Increase (Decrease) in Employee Related Liabilities	$-1,060	$-547	$-703	$-971
Repayments of Senior Debt	—	$76,379	$698	$123,544
Increase (Decrease) in Security Deposits	$494	$33	$-39	$30
Payments of Financing Costs	$2,327	$5,660	$5,660	—
Net Cash Provided by (Used in) Financing Activities	$-10,254	$-164,468	$-5,559	$-3,340
Capital Expenditures Incurred but Not yet Paid	$7,566	$2,888	$763	$644
Notes Assumed	$20,000	$20,000	$20,000	$20,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	$25,740	$24,068	$21,942	$25,552
Income Taxes Paid	$339	$385	$235	$235

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Import this data to Google Sheets with:

=jivedata("FSP","financials")

Full statements spill as a table. For one cell: =jivedata("FSP","Revenue") or =jivedata("FSP","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.