Comerica Bank raised its stake in shares of Franklin Street Properties Corp. (NYSE:FSP) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,946 shares of the company’s stock after buying an additional 6,792 shares during the period. Comerica Bank owned 0.11% of Franklin Street Properties Corp. worth $1,469,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Franklin Street Properties Corp. during the fourth quarter valued at $1,874,000. JNBA Financial Advisors acquired a new stake in Franklin Street Properties Corp. during the fourth quarter valued at $130,000. Finally, Signia Capital Management LLC boosted its stake in Franklin Street Properties Corp. by 74.9% in the fourth quarter. Signia Capital Management LLC now owns 130,416 shares of the company’s stock valued at $1,690,000 after buying an additional 55,865 shares during the last quarter.
Franklin Street Properties Corp. (NYSE:FSP) opened at 11.85 on Tuesday. Franklin Street Properties Corp. has a 12 month low of $9.82 and a 12 month high of $13.27. The stock’s 50 day moving average price is $12.28 and its 200 day moving average price is $12.33. The company has a market capitalization of $1.27 billion and a price-to-earnings ratio of 146.30.
Franklin Street Properties Corp. (NYSE:FSP) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The firm earned $66 million during the quarter, compared to the consensus estimate of $62.24 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Equities research analysts anticipate that Franklin Street Properties Corp. will post $0.13 earnings per share for the current fiscal year.
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Separately, Zacks Investment Research cut Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a report on Monday, December 12th.
In other news, Director John N. Burke acquired 2,070 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was bought at an average price of $12.38 per share, with a total value of $25,626.60. Following the completion of the acquisition, the director now directly owns 20,914 shares of the company’s stock, valued at approximately $258,915.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
About Franklin Street Properties Corp.
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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