Franklin Street Properties (NYSE:FSP) Upgraded at StockNews.com

StockNews.com upgraded shares of Franklin Street Properties (NYSE:FSP) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Franklin Street Properties Price Performance

Shares of Franklin Street Properties stock opened at $1.77 on Tuesday. The company has a market capitalization of $182.55 million, a price-to-earnings ratio of -3.15 and a beta of 0.82. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $1.68 and its 200-day simple moving average is $1.83. Franklin Street Properties has a 52 week low of $1.47 and a 52 week high of $2.72.

Franklin Street Properties (NYSE:FSP) last posted its quarterly 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 return on equity of 10.06% and a negative net margin of 52.85%. The business had revenue of $30.83 million during the quarter. As a group, analysts expect that Franklin Street Properties will post 0.13 earnings per share for the current fiscal year.

Franklin Street Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, July 19th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, July 19th. Franklin Street Properties’s payout ratio is currently -7.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FSP. Private Management Group Inc. boosted its stake in 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 bought a new position in shares of Franklin Street Properties during the 1st quarter valued at approximately $2,796,000. Acuitas Investments LLC grew its holdings in shares of 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 in the last quarter. Acadian Asset Management LLC increased its position in Franklin Street Properties by 25.9% in the first quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock worth $5,050,000 after purchasing an additional 458,235 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Franklin Street Properties by 1,005.2% during the second quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock valued at $459,000 after purchasing an additional 272,622 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

About Franklin Street Properties

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.