On Monday, Franklin Street Properties Corp. (NYSE: FSP) shares price traded between $8.41 and $8.68 during the last trading session upbeat with +0.47 percent at $8.60. The shares recorded trading volume 367,429 shares as compared to its average volume of 475,601 shares. The company has 107.23M shares outstanding and market value of 922.187M. Over the one year trading period, the stock has a peak price of $11.45 and its down is recorded at $7.08.
Franklin Street Properties Corp. (NYSE American: FSP), a real estate investment trust (REIT), reported its results for the first quarter ended March 31, 2018.
FFO was $26.4M or $0.25 per basic and diluted share for the first quarter ended March 31, 2018. We had Net Income of $1.4M or $0.01 per basic and diluted share for the first quarter ended March 31, 2018. Adjusted Funds From Operations (AFFO) was $0.16 per basic and diluted share for the first quarter ended March 31, 2018.
Our directly owned real estate portfolio of 34 properties totaling about 9.8M square feet was about 88.5% leased as of March 31, 2018, which was a 1.2% decrease contrast to December 31, 2017. During the quarter ended March 31, 2018, we leased about 109,000 square feet, of which about 25,000 square feet was with new tenants. Second quarter 2018 leasing activity to date includes about 500,000 square feet of potential leases out for execution, over 100,000 square feet of which would be new leases and expansions. Weighted average annualized GAAP rent per square foot was about $29.05 as of March 31, 2018, contrast to $28.87 as of December 31, 2017, $27.92 as of December 31, 2016, $26.93 as of December 31, 2015, and $26.04 as of December 31, 2014. We believe that the raise is attributable to the improved quality