Franklin Street Properties Corp. (FSP) Receives $8.67 Consensus Target Price from Brokerages

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.67.

A number of equities research analysts have recently weighed in on FSP shares. Zacks Investment Research lowered shares of Franklin Street Properties from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Robert W. Baird raised shares of Franklin Street Properties from a “neutral” rating to an “outperform” rating in a report on Friday, June 29th.

NYSEAMERICAN FSP traded down $0.09 on Friday, hitting $7.19. The stock had a trading volume of 37,422 shares, compared to its average volume of 409,838. 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 Thomson Reuters’ consensus estimate of $0.24 by ($0.23). Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%. The firm had revenue of $66.69 million during the quarter, compared to analysts’ expectations of $65.67 million.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Friday, October 19th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Thursday, October 18th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Franklin Street Properties during the second quarter valued at $107,000. Pinebridge Investments L.P. lifted its position in Franklin Street Properties by 11.2% during the second quarter. Pinebridge Investments L.P. now owns 252,619 shares of the real estate investment trust’s stock valued at $2,162,000 after purchasing an additional 25,379 shares during the period. Renaissance Technologies LLC lifted its position in Franklin Street Properties by 5.2% during the second quarter. Renaissance Technologies LLC now owns 2,094,500 shares of the real estate investment trust’s stock valued at $17,929,000 after purchasing an additional 104,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Franklin Street Properties by 131.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,089 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 17,100 shares during the period. Finally, BlackRock Inc. lifted its position in Franklin Street Properties by 5.6% during the second quarter. BlackRock Inc. now owns 17,566,689 shares of the real estate investment trust’s stock valued at $150,371,000 after purchasing an additional 934,843 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.

Read More: Return on Investment (ROI)

Analyst Recommendations for Franklin Street Properties (NYSEAMERICAN:FSP)

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