Franklin Street Properties Corp. (FSP) Stock Rating Upgraded by Zacks Investment Research
Franklin Street Properties Corp. (AMEX:FSP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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. “
FSP has been the topic of a number of other reports. Stifel Nicolaus restated a “hold” rating and issued a $10.00 price target on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. BidaskClub downgraded shares of Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. ValuEngine upgraded shares of Franklin Street Properties Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Janney Montgomery Scott started coverage on shares of Franklin Street Properties Corp. in a research report on Friday, September 8th. They issued a “buy” rating on the stock. Finally, FBR & Co restated an “outperform” rating and issued a $13.00 price target on shares of Franklin Street Properties Corp. in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $11.67.
Shares of Franklin Street Properties Corp. (AMEX FSP) traded down 1.33% during midday trading on Tuesday, reaching $10.38. 482,923 shares of the company were exchanged. Franklin Street Properties Corp. has a 52-week low of $9.59 and a 52-week high of $13.27. The stock’s 50-day moving average price is $10.24 and its 200-day moving average price is $10.94.
Franklin Street Properties Corp. (AMEX:FSP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Franklin Street Properties Corp. had a negative net margin of 25.44% and a negative return on equity of 7.52%. The company had revenue of $68.37 million for the quarter, compared to the consensus estimate of $67.75 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts anticipate that Franklin Street Properties Corp. will post ($0.07) EPS for the current year.
In other news, Director Brian N. Hansen acquired 12,500 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $9.96 per share, for a total transaction of $124,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth A. Hoxsie acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $9.81 per share, for a total transaction of $29,430.00. Following the completion of the transaction, the director now owns 48,000 shares in the company, valued at $470,880. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 131,275 shares of company stock worth $1,299,392.
Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in Franklin Street Properties Corp. in the 1st quarter valued at about $110,000. Daiwa Securities Group Inc. lifted its position in Franklin Street Properties Corp. by 8.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,200 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 700 shares during the last quarter. Shelton Capital Management bought a new stake in Franklin Street Properties Corp. in the 2nd quarter valued at about $111,000. Sei Investments Co. lifted its position in Franklin Street Properties Corp. by 2,435.8% in the 2nd quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 10,693 shares during the last quarter. Finally, QS Investors LLC lifted its position in Franklin Street Properties Corp. by 9.6% in the 2nd quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 1,220 shares during the last quarter.
About Franklin Street Properties Corp.
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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