- Franklin Street Properties (NYSE:FSP) Board of Directors authorizes the repurchase of up to $50M of its outstanding common shares.
- “We previously announced 2021 disposition guidance in the range of $350 million to $450 million in aggregate gross proceeds. We continue to intend to use those proceeds primarily for debt reduction. However, we believe that our stock price may at times not be fully reflective of the value of our underlying assets. As a result, we may use a portion of proceeds from those asset sales for share repurchases as market conditions warrant.” commented George J. Carter, Chairman and CEO.
- The company has a total market cap of ~$554M.
- Shares scale 13% during after market hours.