Franklin Street Properties (NYSE:FSP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Franklin Street Properties (NYSE:FSP) from a sell rating to a hold rating in a research report report published on Saturday.

Franklin Street Properties Price Performance

Shares of NYSE:FSP opened at $1.69 on Friday. The company’s fifty day moving average price is $1.68 and its 200-day moving average price is $1.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a market capitalization of $174.80 million, a price-to-earnings ratio of -3.16 and a beta of 0.82. Franklin Street Properties has a one year low of $1.47 and a one year high of $2.72.

Franklin Street Properties (NYSE:FSP) last released its earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Franklin Street Properties had a negative net margin of 52.85% and a negative return on equity of 10.06%. The firm had revenue of $30.83 million during the quarter. On average, equities research analysts anticipate that Franklin Street Properties will post 0.13 earnings per share for the current fiscal year.

Franklin Street Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, July 19th were issued a $0.01 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.37%. Franklin Street Properties’s payout ratio is -7.14%.

Hedge Funds Weigh In On Franklin Street Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Management Group Inc. grew its stake in shares of Franklin Street Properties by 30.0% during the second quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock valued at $13,081,000 after buying an additional 1,970,790 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Franklin Street Properties in the 1st quarter worth approximately $2,796,000. Acuitas Investments LLC lifted its position in Franklin Street Properties by 39.5% in the second quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock valued at $3,176,000 after purchasing an additional 587,401 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Franklin Street Properties by 25.9% during the first quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock valued at $5,050,000 after purchasing an additional 458,235 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Franklin Street Properties by 1,005.2% in the second quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock worth $459,000 after purchasing an additional 272,622 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Franklin Street Properties Company Profile

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.