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Franklin Street offers 2017 guidance, reaffirms 2016 outlook

Franklin Street Properties Corp. issued an initial 2017 funds from operations per-share outlook in the range of about $1.04 to $1.09.

The company also reaffirmed its 2016 FFO outlook at roughly $1.03 per share and adjusted its fourth-quarter FFO guidance to a range of 24 cents to 25 cents per share.

Chairman and CEO George Carter said in a release that the company still expects 2016 to "mark the bottom of the reductive effects that our ongoing property portfolio transition is having on FFO," and that its outlook reflects continued FFO growth in 2017.

The S&P Capital IQ consensus FFO per-share estimates are $1.05 for the full year 2017, and 25 cents and $1.03 for the fourth quarter of 2016 and full year 2016, respectively.