Franklin Street Properties (NYSEAMERICAN:FSP) was upgraded by investment analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a report issued on Friday, The Fly reports.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Franklin Street Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. B. Riley upgraded Franklin Street Properties from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.69.
Shares of Franklin Street Properties stock opened at $7.41 on Friday. Franklin Street Properties has a 12 month low of $6.93 and a 12 month high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.09 EPS for the quarter, beating the consensus estimate of $0.01 by $0.08. The firm had revenue of $68.71 million for the quarter, compared to analyst estimates of $66.44 million. Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSP. Integrated Wealth Concepts LLC purchased a new stake in Franklin Street Properties in the 2nd quarter worth approximately $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Franklin Street Properties in the 2nd quarter worth approximately $107,000. First American Bank purchased a new stake in Franklin Street Properties in the 3rd quarter worth approximately $148,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Franklin Street Properties in the 2nd quarter worth approximately $155,000. Finally, Advisors Asset Management Inc. lifted its holdings in Franklin Street Properties by 102.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 67,455 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 34,181 shares during the period.
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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