Shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.67.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Robert W. Baird raised Franklin Street Properties from a “neutral” rating to an “outperform” rating in a research note on Friday, June 29th.
Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its stake in shares of Franklin Street Properties by 97.5% during the third quarter. State of Alaska Department of Revenue now owns 68,746 shares of the real estate investment trust’s stock valued at $547,000 after acquiring an additional 33,939 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Franklin Street Properties by 102.7% during the second quarter. Advisors Asset Management Inc. now owns 67,455 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 34,181 shares during the period. Millennium Management LLC acquired a new position in shares of Franklin Street Properties during the second quarter valued at $895,000. Cubist Systematic Strategies LLC acquired a new position in shares of Franklin Street Properties during the second quarter valued at $206,000. Finally, Raymond James & Associates acquired a new position in shares of Franklin Street Properties during the second quarter valued at $435,000.
Shares of NYSEAMERICAN:FSP opened at $7.10 on Friday. Franklin Street Properties has a fifty-two week low of $7.05 and a fifty-two week high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.23). Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%. The company had revenue of $66.69 million during the quarter, compared to the consensus estimate of $65.67 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, October 19th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Thursday, October 18th.
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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