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Fly News Breaks for February 27, 2018
FSP
Feb 27, 2018 | 06:56 EDT
As reported earlier, BMO Capital analyst John Kim downgraded Franklin Street to Underperform from Market Perform and lowered his price target to $8 from $10.50. Kim says the company's soft FY18 outlook that showed a 6% decline in expected FFO suggests that the REIT's dividend could be cut by at least 40% to get its payout ratio in line with peers. The analyst believes that there is no clear path to near-term earnings recovery.
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