Forsta AP Fonden decreased its position in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,100 shares of the real estate investment trust’s stock after selling 40,800 shares during the period. Forsta AP Fonden’s holdings in Franklin Street Properties were worth $463,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in Franklin Street Properties during the 4th quarter valued at $141,000. Schroder Investment Management Group bought a new stake in Franklin Street Properties during the 3rd quarter valued at $144,000. QS Investors LLC raised its holdings in Franklin Street Properties by 9.6% during 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 during the period. CIBC Asset Management Inc bought a new stake in Franklin Street Properties during the 4th quarter valued at $161,000. Finally, Koch Industries Inc. bought a new stake in Franklin Street Properties during the 2nd quarter valued at $165,000.
FSP has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Franklin Street Properties from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Monday, November 6th. BidaskClub raised shares of Franklin Street Properties from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. B. Riley reissued a “buy” rating on shares of Franklin Street Properties in a report on Thursday, November 2nd. Stifel Nicolaus cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating and lowered their target price for the company from $10.00 to $7.00 in a report on Wednesday, February 14th. Finally, BMO Capital Markets set a $11.00 price target on shares of Franklin Street Properties and gave the stock a “hold” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Franklin Street Properties currently has a consensus rating of “Hold” and a consensus target price of $10.83.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Friday, January 19th were issued a $0.19 dividend. The ex-dividend date was Thursday, January 18th. This represents a $0.76 annualized dividend and a dividend yield of 8.71%. Franklin Street Properties’s payout ratio is currently -506.67%.
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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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