Franklin Street Properties (FSP) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a sell rating to a hold rating in a report published on Tuesday.

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. “

Franklin Street Properties stock opened at $7.29 on Tuesday. Franklin Street Properties has a 52-week low of $7.03 and a 52-week high of $11.00.

Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.23). The business had revenue of $66.69 million for the quarter, compared to analysts’ expectations of $65.67 million. Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Friday, October 19th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Thursday, October 18th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP raised its stake in shares of Franklin Street Properties by 4.2% in the second quarter. Systematic Financial Management LP now owns 174,320 shares of the real estate investment trust’s stock valued at $1,492,000 after acquiring an additional 7,025 shares during the period. Royal Bank of Canada raised its stake in shares of Franklin Street Properties by 23.7% in the first quarter. Royal Bank of Canada now owns 38,932 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 7,469 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Franklin Street Properties in the second quarter valued at $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Franklin Street Properties in the second quarter valued at $107,000. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Franklin Street Properties by 65.4% in the first quarter. Xact Kapitalforvaltning AB now owns 38,685 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 15,300 shares during the period.

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.

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