AXA lifted its holdings in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 49.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 469,900 shares of the real estate investment trust’s stock after purchasing an additional 155,100 shares during the period. AXA owned about 0.44% of Franklin Street Properties worth $5,047,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of FSP. Geode Capital Management LLC raised its stake in Franklin Street Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,083,220 shares of the real estate investment trust’s stock worth $11,633,000 after acquiring an additional 19,494 shares during the period. Private Management Group Inc. raised its stake in Franklin Street Properties by 4.0% during the 4th quarter. Private Management Group Inc. now owns 1,514,387 shares of the real estate investment trust’s stock worth $16,265,000 after acquiring an additional 58,900 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Franklin Street Properties by 2.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 8,321,934 shares of the real estate investment trust’s stock worth $89,378,000 after acquiring an additional 168,944 shares during the period. Virtu Financial LLC bought a new stake in Franklin Street Properties during the 4th quarter worth approximately $114,000. Finally, UBS Asset Management Americas Inc. raised its stake in Franklin Street Properties by 13.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 225,159 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 25,907 shares during the period.
In other Franklin Street Properties news, CEO George J. Carter bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $8.85 per share, with a total value of $44,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 11,718 shares of company stock valued at $100,834.
FSP traded down $0.10 during trading on Friday, reaching $8.25. 377,977 shares of the company traded hands, compared to its average volume of 467,560. Franklin Street Properties Corp. has a 12-month low of $7.94 and a 12-month high of $12.71.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.30). Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%. The company had revenue of $66.84 million for the quarter, compared to analysts’ expectations of $67.68 million.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Friday, April 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.36%.
A number of equities research analysts have commented on FSP shares. Zacks Investment Research cut shares of Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus lowered shares of Franklin Street Properties from a “hold” rating to a “sell” rating and cut their price objective for the company from $10.00 to $7.00 in a report on Wednesday, February 14th. BMO Capital Markets set a $11.00 price objective on shares of Franklin Street Properties and gave the company a “hold” rating in a report on Wednesday, February 14th. Finally, B. Riley lowered shares of Franklin Street Properties from a “buy” rating to a “neutral” rating and cut their price objective for the company from $12.50 to $10.00 in a report on Thursday, February 15th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Franklin Street Properties currently has an average rating of “Hold” and an average target price of $10.33.
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About Franklin Street Properties
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.
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