Franklin Street Properties Corp. (FSP) Sees Large Drop in Short Interest

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) saw a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 1,729,403 shares, a decrease of 13.3% from the December 15th total of 1,993,609 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 325,716 shares, the short-interest ratio is presently 5.3 days.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its position in Franklin Street Properties by 164.8% during the second quarter. First Trust Advisors LP now owns 125,192 shares of the real estate investment trust’s stock valued at $1,387,000 after acquiring an additional 77,915 shares during the last quarter. Private Management Group Inc. grew its position in Franklin Street Properties by 4.5% during the third quarter. Private Management Group Inc. now owns 1,455,487 shares of the real estate investment trust’s stock valued at $15,457,000 after acquiring an additional 62,887 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Franklin Street Properties by 8.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,061 shares of the real estate investment trust’s stock valued at $13,508,000 after acquiring an additional 99,768 shares during the last quarter. Prudential Financial Inc. grew its position in Franklin Street Properties by 18.2% during the third quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock valued at $22,887,000 after acquiring an additional 331,950 shares during the last quarter. Finally, State Street Corp grew its position in Franklin Street Properties by 3.0% during the second quarter. State Street Corp now owns 4,111,492 shares of the real estate investment trust’s stock valued at $45,554,000 after acquiring an additional 119,953 shares during the last quarter.

FSP has been the topic of several research analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $10.00 price objective on shares of Franklin Street Properties in a research report on Thursday, September 21st. ValuEngine upgraded shares of Franklin Street Properties from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. B. Riley restated a “buy” rating on shares of Franklin Street Properties in a research report on Thursday, November 2nd. Finally, BidaskClub upgraded shares of Franklin Street Properties from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $11.75.

Franklin Street Properties (FSP) opened at $10.34 on Thursday. Franklin Street Properties has a 52-week low of $9.59 and a 52-week high of $13.25. The company has a market cap of $1,120.00, a P/E ratio of -114.89 and a beta of 0.78.

Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Franklin Street Properties had a net margin of 2.77% and a return on equity of 0.85%. The business had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $66.31 million. During the same period last year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Friday, January 19th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date is Thursday, January 18th. Franklin Street Properties’s payout ratio is currently -844.44%.

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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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