Franklin Street Properties (NYSEAMERICAN:FSP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

Separately, BMO Capital Markets reiterated a hold rating and issued a $45.00 price objective on shares of SAP in a report on Wednesday, May 1st.

FSP stock traded down $0.10 during trading on Wednesday, hitting $7.67. The stock had a trading volume of 177,712 shares, compared to its average volume of 330,985. Franklin Street Properties has a twelve month low of $5.87 and a twelve month high of $9.22.

Franklin Street Properties (NYSEAMERICAN:FSP) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.21). The company had revenue of $64.72 million during the quarter, compared to the consensus estimate of $62.50 million.

Hedge funds have recently bought and sold shares of the stock. Private Management Group Inc. boosted its holdings in shares of Franklin Street Properties by 4.5% during the 1st quarter. Private Management Group Inc. now owns 1,684,201 shares of the real estate investment trust’s stock worth $12,109,000 after purchasing an additional 72,047 shares during the last quarter. Bollard Group LLC boosted its holdings in shares of Franklin Street Properties by 1.2% during the 1st quarter. Bollard Group LLC now owns 107,754 shares of the real estate investment trust’s stock worth $775,000 after purchasing an additional 1,299 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Franklin Street Properties by 57.1% during the 1st quarter. Pictet Asset Management Ltd. now owns 16,500 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 6,000 shares during the last quarter. Magnus Financial Group LLC acquired a new position in shares of Franklin Street Properties during the 1st quarter worth approximately $104,000. Finally, Piedmont Investment Advisors Inc. boosted its holdings in shares of Franklin Street Properties by 6.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 27,040 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 1,575 shares during the last quarter.

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.

Featured Story: How are the companies in the S&P 500 selected?

Get a free copy of the Zacks research report on Franklin Street Properties (FSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Franklin Street Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Street Properties and related companies with MarketBeat.com's FREE daily email newsletter.