Franklin Street Properties Corp. (NYSEAMERICAN:FSP) Director John N. Burke acquired 2,288 shares of Franklin Street Properties stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $8.74 per share, with a total value of $19,997.12. Following the acquisition, the director now owns 27,087 shares of the company’s stock, valued at $236,740.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Franklin Street Properties Corp. (NYSEAMERICAN:FSP) traded down $0.12 during midday trading on Tuesday, hitting $8.61. 637,875 shares of the stock were exchanged, compared to its average volume of 454,178. Franklin Street Properties Corp. has a 52 week low of $8.05 and a 52 week high of $12.84. The firm has a market capitalization of $936.13, a P/E ratio of -58.40 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Friday, January 19th were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.83%. Franklin Street Properties’s payout ratio is -506.67%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSP. Zeke Capital Advisors LLC acquired a new stake in shares of Franklin Street Properties in the fourth quarter valued at approximately $110,000. Verition Fund Management LLC acquired a new stake in shares of Franklin Street Properties in the fourth quarter valued at approximately $111,000. Virtu Financial LLC acquired a new stake in shares of Franklin Street Properties in the fourth quarter valued at approximately $114,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Franklin Street Properties in the fourth quarter valued at approximately $141,000. Finally, Schroder Investment Management Group acquired a new position in Franklin Street Properties during the third quarter valued at approximately $144,000.
A number of equities research analysts have recently issued reports on FSP shares. Zacks Investment Research upgraded Franklin Street Properties from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, November 6th. BidaskClub upgraded Franklin Street Properties from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. B. Riley reiterated a “buy” rating on shares of Franklin Street Properties in a research report on Thursday, November 2nd. Stifel Nicolaus downgraded shares of Franklin Street Properties from a “hold” rating to a “sell” rating and dropped their price target for the company from $10.00 to $7.00 in a research report on Wednesday, February 14th. Finally, BMO Capital Markets set a $11.00 price target on shares of Franklin Street Properties and gave the company a “hold” rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.83.
About Franklin Street Properties
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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