Franklin Street Properties Corp. (NYSEAMERICAN:FSP)’s share price was up 7.7% on Wednesday . The stock traded as high as $8.25 and last traded at $8.07, approximately 837,765 shares were traded during trading. An increase of 145% from the average daily volume of 342,109 shares. The stock had previously closed at $7.49.
Several analysts have recently weighed in on FSP shares. Zacks Investment Research raised shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. B. Riley reaffirmed a “buy” rating on shares of Franklin Street Properties in a research note on Monday, November 4th. Robert W. Baird downgraded shares of Franklin Street Properties from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Monday, January 6th. Finally, BMO Capital Markets reaffirmed a “sell” rating and set a $8.00 price target on shares of Franklin Street Properties in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Franklin Street Properties presently has an average rating of “Hold” and a consensus target price of $8.81.
Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.20). The business had revenue of $69.00 million for the quarter, compared to analyst estimates of $68.44 million.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Friday, January 24th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Thursday, January 23rd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new position in Franklin Street Properties in the fourth quarter worth $88,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Franklin Street Properties during the third quarter worth $110,000. First American Bank acquired a new stake in shares of Franklin Street Properties during the fourth quarter worth $143,000. ProShare Advisors LLC lifted its stake in shares of Franklin Street Properties by 17.1% during the fourth quarter. ProShare Advisors LLC now owns 17,022 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 2,483 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Franklin Street Properties during the third quarter worth $148,000.
Franklin Street Properties Company Profile (NYSEAMERICAN:FSP)
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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