FSP Stock Price Correlated With Franklin Street Properties REIT Financials
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Income Statement
Cash Flow
Balance Sheet
FSP Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
FSP Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
FSP Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
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Long Term Debt, Non-Current Portion:
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Total Liabilities:
COMPANY PROFILE
1. Organization, Properties, Basis of Presentation, Financial Instruments and Recent Accounting Standards
Organization
Franklin Street Properties Corp. (FSP Corp. or the Company), holds, directly and indirectly, 100% of the interest in FSP Investments LLC, FSP Property Management LLC, and FSP Holdings LLC. The Company also has a non-controlling common stock interest in 16 corporations organized to operate as real estate investment trusts (REITs) and a non-controlling preferred stock interest in three of those REITs.
The Company operates in two business segments: real estate operations and investment banking/investment services. FSP Investments LLC provides real estate investment and broker/dealer services. FSP Investments LLCs services include: (i) the organization of REIT entities (the Sponsored REITs), which are syndicated through private placements; (ii) sourcing of the acquisition of real estate on behalf of the Sponsored REITs; and (iii) the sale of preferred stock in Sponsored REITs. FSP Investments LLC is a registered broker/dealer with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority, or FINRA. FSP Property Management LLC provides asset management and property management services for the Sponsored REITs.
The Company owns and operates a portfolio of real estate, which consisted of 35 properties as of March 31, 2011. From time-to-time, the Company may acquire real estate or invest in real estate by purchasing shares of preferred stock offered in syndications of Sponsored REITs. The Company may also pursue, on a selective basis, the sale of its properties in order to take advantage of the value creation and demand for its properties, or for geographic or property specific reasons.
Properties
The following table summarizes the Companys investment in real estate assets, excluding assets held for syndication and assets held for sale:
As of March 31,
2011
2010
Commercial real estate:
Number of properties
35
32
Rentable square feet
6,845,176
5,942,299
Basis of Presentation
The unaudited condensed consolidated financial statements of the Company include all the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated. These financial statements should be read in conjunction with the Companys consolidated financial statements and notes thereto contained in the Companys Annual Report on Form 10-K for its fiscal year ended December 31, 2010, as filed with the Securities and Exchange Commission.
The accompanying interim financial statements are unaudited; however, the financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information and in conjunction with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting solely of normal recurring matters) necessary for a fair presentation of the financial statements for these interim periods have been included. Operating results for the three months ended March 31, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011 or for any other period.
Reclassifications
Certain amounts from the 2010 income statement have been reclassified to conform to the 2011 presentation. The reclassifications were related to an asset held for sale as of December 31, 2010, which was presented as discontinued operations for all periods presented. These reclassifications changed rental revenues, operating and maintenance expenses, depreciation and amortization, selling, general and administrative expenses and the related assets. There was no change to net income for any period presented as a result of t
Organization
Franklin Street Properties Corp. (FSP Corp. or the Company), holds, directly and indirectly, 100% of the interest in FSP Investments LLC, FSP Property Management LLC, and FSP Holdings LLC. The Company also has a non-controlling common stock interest in 16 corporations organized to operate as real estate investment trusts (REITs) and a non-controlling preferred stock interest in three of those REITs.
The Company operates in two business segments: real estate operations and investment banking/investment services. FSP Investments LLC provides real estate investment and broker/dealer services. FSP Investments LLCs services include: (i) the organization of REIT entities (the Sponsored REITs), which are syndicated through private placements; (ii) sourcing of the acquisition of real estate on behalf of the Sponsored REITs; and (iii) the sale of preferred stock in Sponsored REITs. FSP Investments LLC is a registered broker/dealer with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority, or FINRA. FSP Property Management LLC provides asset management and property management services for the Sponsored REITs.
The Company owns and operates a portfolio of real estate, which consisted of 35 properties as of March 31, 2011. From time-to-time, the Company may acquire real estate or invest in real estate by purchasing shares of preferred stock offered in syndications of Sponsored REITs. The Company may also pursue, on a selective basis, the sale of its properties in order to take advantage of the value creation and demand for its properties, or for geographic or property specific reasons.
Properties
The following table summarizes the Companys investment in real estate assets, excluding assets held for syndication and assets held for sale:
As of March 31,
2011
2010
Commercial real estate:
Number of properties
35
32
Rentable square feet
6,845,176
5,942,299
Basis of Presentation
The unaudited condensed consolidated financial statements of the Company include all the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated. These financial statements should be read in conjunction with the Companys consolidated financial statements and notes thereto contained in the Companys Annual Report on Form 10-K for its fiscal year ended December 31, 2010, as filed with the Securities and Exchange Commission.
The accompanying interim financial statements are unaudited; however, the financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information and in conjunction with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting solely of normal recurring matters) necessary for a fair presentation of the financial statements for these interim periods have been included. Operating results for the three months ended March 31, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011 or for any other period.
Reclassifications
Certain amounts from the 2010 income statement have been reclassified to conform to the 2011 presentation. The reclassifications were related to an asset held for sale as of December 31, 2010, which was presented as discontinued operations for all periods presented. These reclassifications changed rental revenues, operating and maintenance expenses, depreciation and amortization, selling, general and administrative expenses and the related assets. There was no change to net income for any period presented as a result of t
Free historical financial statements for Franklin Street Properties REIT Co. See how revenue, income, cash flow, and balance sheet financials have changed over 55 quarters since 2011. Compare with FSP stock chart to see long term trends.
Data imported from Franklin Street Properties REIT Co SEC filings. Check original filings before making any investment decision.