Item 5. Market for Registrant’s Common Equity
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the NYSE American under the symbol “FSP”.
As of February 1, 2023, there were 15,350 holders of our common stock, including both holders of record and participants in securities position listings.
While not guaranteed, we expect to continue to pay cash dividends on our common stock in the future. See Part I, Item 1A Risk Factors, “Our level of dividends may fluctuate.” for additional information.
Issuer Purchases of Equity Securities
On June 23, 2021, FSP Corp. announced that the Board of Directors of FSP Corp. had authorized the repurchase of up to $50 million of the Company’s common stock from time to time in the open market, privately negotiated transactions or other manners as permitted by federal securities laws. The repurchase authorization may be suspended or discontinued at any time. There were no repurchases during the three months ended December 31, 2022. On February 10, 2023, FSP Corp. disclosed in a Current Report on Form 8-K that the Board of Directors of FSP Corp. had discontinued the repurchase authorization.
STOCK PERFORMANCE GRAPH
The Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 included a comparison of the cumulative total return of the Company’s common stock with the FTSE NAREIT Equity REITs Index, the Standard & Poor’s 500 Composite Stock Price Index (“S&P 500”) and the Russell 2000 Total Return Index. The Company believes that the FTSE NAREIT Equity Office Index, which is comprised of REITs that invest in commercial office real estate investments, provides a better comparison and is a more appropriate index than the FTSE NAREIT Equity REITs Index for comparison of the Company’s stock performance. In accordance with SEC regulations, the following graph compares the cumulative total stockholder return on the Company’s common stock between December 31, 2017 and December 31, 2022 with the cumulative total return of (1) the FTSE NAREIT Equity REITs Index, (2) the S&P 500, (3) the Russell 2000 Total Return Index and (4) the FTSE NAREIT Equity Office Index over the same period. This graph assumes the investment of $100.00 on December 31, 2017 and assumes that any distributions are reinvested.
22
Table of Contents
As of December 31,
2017
2018
2019
2020
2021
2022
FSP
$
100
$
61
$
88
$
48
$
74
$
35
FTSE NAREIT Equity REITs
100
96
123
117
166
124
S&P 500
100
96
126
149
192
157
Russell 2000
100
89
112
134
154
122
FTSE NAREIT Equity Office
100
86
112
92
112
70
Notes to Graph:
The above performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the Securities and Exchange Commission, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
Item 6. [Reserved]
23
Table of Contents