Franklin Street Properties Corp. (NYSEAMERICAN:FSP) – Equities researchers at B. Riley upped their Q1 2019 earnings per share (EPS) estimates for shares of Franklin Street Properties in a research report issued to clients and investors on Thursday, November 1st. B. Riley analyst C. Kucera now forecasts that the real estate investment trust will post earnings of $0.24 per share for the quarter, up from their previous forecast of $0.23. B. Riley has a “Buy” rating and a $9.00 price objective on the stock. B. Riley also issued estimates for Franklin Street Properties’ Q2 2019 earnings at $0.24 EPS and FY2019 earnings at $0.96 EPS.
A number of other brokerages have also recently issued reports on FSP. Zacks Investment Research cut Franklin Street Properties from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. BMO Capital Markets upgraded Franklin Street Properties from an “underperform” rating to a “market perform” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Franklin Street Properties currently has an average rating of “Hold” and an average target price of $8.69.
Franklin Street Properties stock opened at $8.03 on Monday. 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 posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.08. The firm had revenue of $68.71 million during the quarter, compared to the consensus estimate of $66.44 million.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted 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 valued at $150,371,000 after purchasing an additional 934,843 shares in the last quarter. Schwab Charles Investment Management Inc. lifted 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 valued at $14,226,000 after purchasing an additional 124,068 shares in the last quarter. Millennium Management LLC bought a new position in shares of Franklin Street Properties during the 2nd quarter valued at about $895,000. Renaissance Technologies LLC lifted 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 valued at $17,929,000 after purchasing an additional 104,400 shares in the last quarter. Finally, SG Americas Securities LLC lifted 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 valued at $1,150,000 after purchasing an additional 93,760 shares in the last quarter.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, October 18th.
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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