Franklin Street Properties (FSP) Lifted to Hold at Zacks Investment Research

Franklin Street Properties (NYSEAMERICAN:FSP) was upgraded by Zacks Investment Research from a “sell” 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. “

How to Become a New Pot Stock Millionaire

FSP has been the topic of a number of other research reports. B. Riley cut shares of Franklin Street Properties from a “buy” rating to a “neutral” rating and dropped their target price for the company from $12.50 to $10.00 in a report on Thursday, February 15th. BMO Capital Markets set a $11.00 target price on shares of Franklin Street Properties and gave the company a “hold” rating in a report on Wednesday, February 14th. Stifel Nicolaus cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating and dropped their target price for the company from $10.00 to $7.00 in a report on Wednesday, February 14th. Finally, Janney Montgomery Scott cut shares of Franklin Street Properties from a “buy” rating to a “neutral” rating in a research note on Monday, April 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.33.

Shares of FSP stock opened at $7.82 on Wednesday. Franklin Street Properties has a 12 month low of $7.08 and a 12 month high of $12.71.

Franklin Street Properties (NYSEAMERICAN:FSP) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $66.84 million for the quarter, compared to the consensus estimate of $67.68 million.

In other news, CEO George J. Carter purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $8.85 per share, for a total transaction of $44,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders purchased 11,718 shares of company stock worth $100,834.

A number of institutional investors and hedge funds have recently bought and sold shares of FSP. Schroder Investment Management Group bought a new position in Franklin Street Properties during the 3rd quarter valued at about $144,000. Wells Fargo & Company MN lifted its stake in Franklin Street Properties by 38.9% during the 3rd quarter. Wells Fargo & Company MN now owns 156,806 shares of the real estate investment trust’s stock valued at $1,666,000 after acquiring an additional 43,954 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Franklin Street Properties by 1.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,239,926 shares of the real estate investment trust’s stock valued at $13,169,000 after acquiring an additional 20,865 shares during the period. Dimensional Fund Advisors LP lifted its stake in Franklin Street Properties by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,500,921 shares of the real estate investment trust’s stock valued at $15,940,000 after acquiring an additional 10,003 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Franklin Street Properties by 5.2% during the 3rd quarter. California Public Employees Retirement System now owns 373,560 shares of the real estate investment trust’s stock valued at $3,967,000 after acquiring an additional 18,367 shares during the period.

TRADEMARK VIOLATION NOTICE: “Franklin Street Properties (FSP) Lifted to Hold at Zacks Investment Research” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/18/franklin-street-properties-fsp-lifted-to-hold-at-zacks-investment-research.html.

Franklin Street Properties Company Profile

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.

Get a free copy of the Zacks research report on Franklin Street Properties (FSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Franklin Street Properties (NYSEAMERICAN:FSP)

Receive News & Ratings for Franklin Street Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Street Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply