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 …
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Franklin Street Properties Corp ranks #21 of 27
scored companies in REIT - Office by moat score — the top 78%.
The widest moat in the group is Easterly Government Properties, (DEA)
at 78/100.
Moat scores for companies ranked near FSP in REIT - Office
For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.
AFFO Strength
Score 6
· 18% of the moat score
AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.
Balance Sheet & Cost of Capital
Score 37
· 20% of the moat score
Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.
Capital Recycling & Growth
Score 84
· 16% of the moat score
REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.
Operational Efficiency
Score 5
· 14% of the moat score
Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.
Portfolio Quality & Diversification
Score 59
· 12% of the moat score
Portfolio quality is really a question about what happens when a tenant fails.
What is Franklin Street Properties Corp's moat score?
Franklin Street Properties Corp (FSP) scores 34 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #21 of 27 scored companies in REIT - Office, the top 78%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 30 companies in REIT - Office. Its strongest defense is Capital Recycling & Growth (84/100) and its weakest is Operational Efficiency (5/100).
How does Franklin Street Properties Corp compare with other REIT - Office companies?
Franklin Street Properties Corp ranks #21 of 27 scored companies in REIT - Office by moat score. The widest moat in REIT - Office is Easterly Government Properties, (DEA) at 78/100. The companies ranked closest are Brandywine Realty Trust (BDN) at 35 just above it and JBG SMITH Properties (JBGS) at 29 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 30 companies in REIT - Office. The defenses are then weighted to produce the overall score out of 100.
Why is Franklin Street Properties Corp scored with the REIT Specialized template?
A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.
Which competitive defenses are measured for Franklin Street Properties Corp?
The REIT Specialized template measures 6 defenses, and FSP scores: Rent Pricing Power (16), AFFO Strength (6), Balance Sheet & Cost of Capital (37), Capital Recycling & Growth (84), Operational Efficiency (5), Portfolio Quality & Diversification (59). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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