FSP · 10-Q · 2026Q1 · Full report

Funds From Operations (FFO)

FRANKLIN STREET PROPERTIES CORP /MA/ · 2026-04-28 · Importance 57 · Surprise 64

NAREIT FFO was $1.053 million and the Company’s reported FFO was $1.151 million for the three months ended March 31, 2026, compared to NAREIT FFO of $2.673 million and FFO of $2.727 million for the three months ended March 31, 2025. The year-over-year reduction in FFO reflects the absence of the $13.3 million impairment charge recorded in Q1 2025 (related to the Indianapolis property) and lower overall operating performance and leasing-driven revenue changes. Management uses FFO as a performance measure and states it should be examined alongside net income and GAAP cash flows; the Company presented the calculations in a table following the FFO discussion. The Company cautioned that FFO is a non-GAAP measure and may not be comparable to other REITs’ definitions.

Key facts

• NAREIT FFO was $1,053 thousand for the three months ended March 31, 2026 compared to $2,673 thousand for the three months ended March 31, 2025.
• Funds From Operations was $1,151 thousand for the three months ended March 31, 2026 compared to $2,727 thousand for the three months ended March 31, 2025.