B. Riley upgraded shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat reports. The brokerage currently has $9.00 price objective on the real estate investment trust’s stock.
Separately, Zacks Investment Research lowered Franklin Street Properties from a buy rating to a hold rating in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Franklin Street Properties currently has a consensus rating of Hold and an average target price of $8.69.
Shares of Franklin Street Properties stock traded up $0.37 during trading hours on Thursday, hitting $7.78. The company’s stock had a trading volume of 651,159 shares, compared to its average volume of 410,416. Franklin Street Properties has a twelve month low of $6.93 and a twelve month high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%. The business had revenue of $68.71 million for the quarter, compared to analyst estimates of $66.44 million.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Friday, October 19th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.63%. The ex-dividend date is Thursday, October 18th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in Franklin Street Properties during the 2nd quarter worth about $100,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Franklin Street Properties during the 2nd quarter worth about $107,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Franklin Street Properties during the 2nd quarter worth about $155,000. First American Bank acquired a new position in Franklin Street Properties during the 3rd quarter worth about $148,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Franklin Street Properties during the 2nd quarter worth about $194,000.
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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