Franklin Street Properties Corp (FSP) Fair Value & Analysis
Real Estate · US · Market cap $60.3M
Franklin Street Properties Corp
FSP · US
Fair value as of: Jul 26, 2026
From 4 valuation models · updated 15 days ago
Fair value updated Jul 26, 2026, revised from $0.5894 to $0.5916 (+0.4%) since Jun 26, 2026. Share price −11.8% over the past month.
Below-average quality, screening 31% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range ($0.3654 to $0.8162) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $0.4321 – $5.52 · fair‑value band $0.3654 – $0.8162 · the $0.4500 price screens below the $0.5916 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Franklin Street Properties Corp (FSP) currently trades at $0.4500, while our model-based Fair Value estimate is $0.5916, implying the stock looks roughly 31.5% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Over the trailing twelve months, Franklin Street Properties Corp generated revenue of $106M at a net margin of -31.1%. Revenue declined 3.3% year over year. It earns a return on equity of -5.4%. Net debt stands at $218M. Fundamentals as of Jul 26, 2026
Our scenario range runs from $0.3654 (bear case) to $0.8162 (bull case); at $0.4500, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 75% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -20% fair-value upside, at 31%, FSP screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 4 models by family
Widest divergence: Multiples ($4.00) versus Dividend Discount ($0.4400). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 15
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Franklin Street Properties Corp. is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.
Full company description
Franklin Street Properties Corp. is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust for federal income tax purposes. Franklin Street Properties Corp. is based in Wakefield, Massachusetts. Franklin Street Properties Corp. was incorporated 1981 in Maryland, USA.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Franklin Street Properties Corp reported revenue of $107M in FY2025 versus $209M in FY2021, a compound −15.4%/yr. Reported net income was −$45.0M in FY2025.
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Peer Group
REIT - Office · 75 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Office median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| MERLIN Properties SOCIMI, S.A MRL | €15.23 | €6.46 | -58% |
| BXP, Inc BXP | $69.11 | $53.27 | -23% |
| Vornado Realty Trust VNORP | $51.75 | $41.59 | -20% |
| Alexandria Real Estate Equities, Inc ARE | $50.12 | $59.48 | +19% |
| Hudson Pacific Properties, Inc HPP | $15.38 | $4.60 | -70% |
| Mapletree Pan Asia Commercial Trust N2IU | 1.28 SGD | 1.14 SGD | -11% |
| Cousins Properties Incorporated CUZ | $32.15 | $17.62 | -45% |
| Kilroy Realty Corporation KRC | $39.42 | $40.37 | +2% |
| Keppel DC REIT AJBU | 2.20 SGD | 1.68 SGD | -24% |
| DEXUS DXS | A$5.64 | A$4.49 | -20% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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