Franklin Street Properties (NYSEAMERICAN:FSP) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “

Separately, B. Riley lowered their price objective on shares of Franklin Street Properties from $7.00 to $6.50 in a research report on Friday, February 18th.

Franklin Street Properties stock opened at $5.48 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $566.01 million, a price-to-earnings ratio of 11.42 and a beta of 0.87. Franklin Street Properties has a 1 year low of $4.41 and a 1 year high of $6.58.

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) last posted its quarterly earnings results on Monday, February 14th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.05). Franklin Street Properties had a return on equity of 6.78% and a net margin of 22.85%. Sell-side analysts predict that Franklin Street Properties will post 0.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 5th. Shareholders of record on Friday, April 15th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend is Wednesday, April 13th. Franklin Street Properties’s dividend payout ratio (DPR) is currently 75.00%.

In related news, Director Brian N. Hansen bought 50,000 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was bought at an average price of $5.68 per share, with a total value of $284,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.35% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FSP. Royal Bank of Canada lifted its stake in shares of Franklin Street Properties by 420.6% in the 2nd quarter. Royal Bank of Canada now owns 7,065 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 5,708 shares during the last quarter. Morgan Stanley raised its holdings in Franklin Street Properties by 14.1% in the 2nd quarter. Morgan Stanley now owns 573,555 shares of the real estate investment trust’s stock worth $3,018,000 after acquiring an additional 71,050 shares during the period. Maryland State Retirement & Pension System bought a new position in Franklin Street Properties in the 3rd quarter worth $180,000. SG Americas Securities LLC raised its holdings in Franklin Street Properties by 544.5% in the 3rd quarter. SG Americas Securities LLC now owns 167,420 shares of the real estate investment trust’s stock worth $777,000 after acquiring an additional 141,445 shares during the period. Finally, Waterfront Wealth Inc. raised its holdings in Franklin Street Properties by 33.8% in the 3rd quarter. Waterfront Wealth Inc. now owns 52,321 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 13,221 shares during the period. 81.65% of the stock is owned by institutional investors and hedge funds.

Franklin Street Properties Company Profile (Get Rating)

Franklin Street Properties Corp., based in Wakefield, Massachusetts, 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.

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