B. Riley lowered shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has $10.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $12.50. B. Riley also issued estimates for Franklin Street Properties’ Q1 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $1.00 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.26 EPS and FY2019 earnings at $1.01 EPS.
FSP has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Franklin Street Properties from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Monday, November 6th. Stifel Nicolaus lowered shares of Franklin Street Properties from a hold rating to a sell rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Wednesday. BidaskClub upgraded shares of Franklin Street Properties from a strong sell rating to a sell rating in a research note on Thursday, November 9th. Finally, BMO Capital Markets set a $11.00 price objective on shares of Franklin Street Properties and gave the stock a hold rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $10.83.
Shares of Franklin Street Properties (NYSEAMERICAN FSP) opened at $8.73 on Thursday. The stock has a market cap of $936.13, a PE ratio of -58.20 and a beta of 0.67. Franklin Street Properties has a 12 month low of $8.05 and a 12 month high of $12.84.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Friday, January 19th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $0.76 annualized dividend and a yield of 8.71%. Franklin Street Properties’s dividend payout ratio (DPR) is -506.67%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in Franklin Street Properties by 29.4% in the 4th quarter. LSV Asset Management now owns 4,908,775 shares of the real estate investment trust’s stock worth $52,720,000 after purchasing an additional 1,114,012 shares during the last quarter. Truepoint Inc. grew its position in Franklin Street Properties by 962.0% in the 3rd quarter. Truepoint Inc. now owns 798,815 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 723,597 shares during the last quarter. BlackRock Inc. grew its position in Franklin Street Properties by 3.8% in the 4th quarter. BlackRock Inc. now owns 16,413,175 shares of the real estate investment trust’s stock worth $176,277,000 after purchasing an additional 602,668 shares during the last quarter. Renaissance Technologies LLC grew its position in Franklin Street Properties by 18.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,330,100 shares of the real estate investment trust’s stock worth $25,025,000 after purchasing an additional 356,900 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Franklin Street Properties by 18.2% in the 3rd quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock worth $22,887,000 after purchasing an additional 331,950 shares during the last quarter.
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Franklin Street Properties Company Profile
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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