Franklin Street Properties (NYSE:FSP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Franklin Street Properties (NYSE:FSP) from a sell rating to a hold rating in a research report released on Tuesday.

Franklin Street Properties Trading Down 1.4 %

Shares of FSP opened at $1.77 on Tuesday. Franklin Street Properties has a twelve month low of $1.47 and a twelve month high of $2.72. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $1.83. The company has a market cap of $182.55 million, a P/E ratio of -3.15 and a beta of 0.82.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The firm had revenue of $30.83 million during the quarter. Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. As a group, analysts expect that Franklin Street Properties will post 0.13 EPS for the current year.

Franklin Street Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, July 19th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.04 dividend on an annualized basis and a yield of 2.27%. Franklin Street Properties’s payout ratio is -7.14%.

Institutional Trading of Franklin Street Properties

Large investors have recently made changes to their positions in the stock. Private Management Group Inc. increased its stake in Franklin Street Properties by 30.0% in the 2nd quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock worth $13,081,000 after buying an additional 1,970,790 shares during the period. Vanguard Group Inc. increased its position in shares of Franklin Street Properties by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,236,758 shares of the company’s stock worth $18,697,000 after acquiring an additional 25,568 shares during the period. Acadian Asset Management LLC raised its stake in shares of Franklin Street Properties by 9.7% during the second quarter. Acadian Asset Management LLC now owns 2,440,734 shares of the company’s stock valued at $3,732,000 after acquiring an additional 215,358 shares in the last quarter. Acuitas Investments LLC boosted its holdings in shares of Franklin Street Properties by 39.5% in the second quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock valued at $3,176,000 after purchasing an additional 587,401 shares during the period. Finally, Confluence Investment Management LLC bought a new position in Franklin Street Properties in the first quarter worth approximately $2,796,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

About Franklin Street Properties

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.