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

Zacks Investment Research upgraded shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a sell rating to a hold rating in a research report report published on Tuesday morning.

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. “

NYSEAMERICAN FSP opened at $7.41 on Tuesday. Franklin Street Properties has a one year low of $6.93 and a one year high of $11.00.

Franklin Street Properties (NYSEAMERICAN:FSP) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 EPS for the quarter, topping the Zacks’ 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 company had revenue of $68.71 million for the quarter, compared to analysts’ expectations of $66.44 million.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Friday, October 19th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, October 18th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Franklin Street Properties in the 2nd quarter worth about $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Franklin Street Properties in the 2nd quarter worth about $107,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Franklin Street Properties in the 2nd quarter worth about $155,000. First American Bank purchased a new stake in Franklin Street Properties in the 3rd quarter worth about $148,000. Finally, Pensionfund Sabic purchased a new stake in Franklin Street Properties in the 2nd quarter worth about $171,000.

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.

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Analyst Recommendations for Franklin Street Properties (NYSEAMERICAN:FSP)

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