Franklin Street Properties (FSP) Trading Up 6.5%

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) shares were up 6.5% during trading on Thursday . The company traded as high as $7.67 and last traded at $7.41. Approximately 774,469 shares were traded during trading, an increase of 89% from the average daily volume of 409,308 shares. The stock had previously closed at $6.96.

FSP has been the subject of several recent research reports. Zacks Investment Research raised shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets raised shares of Franklin Street Properties from an “underperform” rating to a “market perform” rating in a research report on Friday. Finally, B. Riley raised shares of Franklin Street Properties from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.69.

Franklin Street Properties (NYSEAMERICAN:FSP) last posted its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The company had revenue of $68.71 million during the quarter, compared to the consensus estimate of $66.44 million. Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%.

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

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Franklin Street Properties by 5.6% during the 2nd quarter. BlackRock Inc. now owns 17,566,689 shares of the real estate investment trust’s stock worth $150,371,000 after buying an additional 934,843 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Franklin Street Properties by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,661,822 shares of the real estate investment trust’s stock worth $14,226,000 after buying an additional 124,068 shares during the period. Millennium Management LLC bought a new stake in shares of Franklin Street Properties during the 2nd quarter worth $895,000. Renaissance Technologies LLC boosted its holdings in shares of Franklin Street Properties by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,094,500 shares of the real estate investment trust’s stock worth $17,929,000 after buying an additional 104,400 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Franklin Street Properties by 231.2% during the 2nd quarter. SG Americas Securities LLC now owns 134,305 shares of the real estate investment trust’s stock worth $1,150,000 after buying an additional 93,760 shares during the period.

Franklin Street Properties Company Profile (NYSEAMERICAN:FSP)

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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