Zacks Investment Research Downgrades Franklin Street Properties (FSP) to Hold

Franklin Street Properties (NYSEAMERICAN:FSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other research analysts have also commented on FSP. ValuEngine raised Franklin Street Properties from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 price objective on shares of Franklin Street Properties in a research report on Thursday, September 21st. B. Riley reaffirmed a “buy” rating on shares of Franklin Street Properties in a research report on Thursday, November 2nd. BidaskClub raised Franklin Street Properties from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Janney Montgomery Scott started coverage on Franklin Street Properties in a research report on Friday, September 8th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Franklin Street Properties presently has a consensus rating of “Hold” and a consensus price target of $11.75.

Franklin Street Properties (NYSEAMERICAN FSP) traded down $0.23 during trading hours on Wednesday, reaching $10.52. The company’s stock had a trading volume of 370,660 shares, compared to its average volume of 394,700. Franklin Street Properties has a one year low of $9.59 and a one year high of $13.27. The stock has a market capitalization of $1,150.00, a price-to-earnings ratio of -116.89 and a beta of 0.77.

Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Franklin Street Properties had a return on equity of 0.85% and a net margin of 2.77%. The company had revenue of $67.30 million for the quarter, compared to analyst estimates of $66.31 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shelton Capital Management purchased a new stake in shares of Franklin Street Properties during the second quarter worth about $111,000. Sei Investments Co. increased its position in shares of Franklin Street Properties by 2,435.8% during the second quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 10,693 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Franklin Street Properties during the third quarter worth about $144,000. QS Investors LLC increased its position in shares of Franklin Street Properties by 9.6% during the second quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Franklin Street Properties by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 14,002 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 113 shares during the last quarter.

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About Franklin Street Properties

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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