Franklin Street Properties (NYSEAMERICAN:FSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
A number of other equities analysts have also recently issued reports on the stock. ValuEngine raised shares of Franklin Street Properties from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. B. Riley reissued a “buy” rating on shares of Franklin Street Properties in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price objective on shares of Franklin Street Properties in a research report on Thursday, September 21st. Janney Montgomery Scott assumed coverage on shares of Franklin Street Properties in a research report on Friday, September 8th. They set a “buy” rating on the stock. Finally, BidaskClub raised shares of Franklin Street Properties from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Franklin Street Properties has an average rating of “Hold” and an average price target of $11.75.
Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. Franklin Street Properties had a return on equity of 0.85% and a net margin of 2.77%. The firm had revenue of $67.30 million during the quarter, compared to the consensus estimate of $66.31 million. During the same period last year, the business posted $0.26 EPS. The business’s revenue was up 8.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Shelton Capital Management bought a new position in Franklin Street Properties in the 2nd quarter valued at about $111,000. Sei Investments Co. lifted its position in Franklin Street Properties by 2,435.8% in the 2nd quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 10,693 shares in the last quarter. Schroder Investment Management Group bought a new position in Franklin Street Properties in the 3rd quarter valued at about $144,000. QS Investors LLC lifted its position in Franklin Street Properties by 9.6% in the 2nd quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Franklin Street Properties by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 14,002 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 113 shares in the last quarter.
Franklin Street Properties Company Profile
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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