5 Penny Stocks that Pay Dividends

In this article, we discuss 5 penny stocks that pay dividends. If you want to see more affordable dividend stocks, click 10 Penny Stocks that Pay Dividends.

5. Franklin Street Properties Corp. (NYSE:FSP)

Dividend Yield as of May 16: 7.90%

Price as of May 16: $4.55

Number of Hedge Fund Holders: 10

Franklin Street Properties Corp. (NYSE:FSP) is a real estate investment trust based in Wakefield, Massachusetts. The company focuses on value-oriented infill and central business district office properties in the U.S. Sunbelt and Mountain West. Franklin Street Properties Corp. (NYSE:FSP)’s dividend yield on May 16 stood at 7.90%. 

On April 1, Franklin Street Properties Corp. (NYSE:FSP) declared a quarterly per share dividend of $0.09, in line with previous. The dividend was paid on May 5, for shareholders of record on April 15. 

Riley analyst Craig Kucera on May 5 reiterated a Buy rating on Franklin Street Properties Corp. (NYSE:FSP) but lowered the firm’s price target on the shares to $6 from $6.50 after the Q1 results were published. The analyst cited office real estate investment trust multiple compression and a reduction to his net asset value estimate for the slashed price target.

Among the hedge funds tracked by Insider Monkey, 10 funds reported owning stakes in Franklin Street Properties Corp. (NYSE:FSP) at the end of December 2021, compared to 12 funds in the last quarter. In Q1 2022, Jim Simons’ Renaissance Technologies held a significant position in the company, with 1.6 million shares worth $9.6 billion.