Shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) traded up 6.5% during trading on Thursday . The stock traded as high as $7.67 and last traded at $7.41. 774,469 shares traded hands during trading, an increase of 89% from the average session volume of 409,308 shares. The stock had previously closed at $6.96.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Franklin Street Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BMO Capital Markets raised Franklin Street Properties from an “underperform” rating to a “market perform” rating in a research report on Friday. Finally, B. Riley raised Franklin Street Properties from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.69.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The firm had revenue of $68.71 million during the quarter, compared to analysts’ expectations of $66.44 million.
Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Franklin Street Properties in the second quarter worth $107,000. Pinebridge Investments L.P. grew its stake in shares of Franklin Street Properties by 11.2% in the second quarter. Pinebridge Investments L.P. now owns 252,619 shares of the real estate investment trust’s stock worth $2,162,000 after acquiring an additional 25,379 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Franklin Street Properties by 5.2% in the second quarter. Renaissance Technologies LLC now owns 2,094,500 shares of the real estate investment trust’s stock worth $17,929,000 after acquiring an additional 104,400 shares in the last quarter. BlackRock Inc. grew its stake in shares of Franklin Street Properties by 5.6% in the second quarter. BlackRock Inc. now owns 17,566,689 shares of the real estate investment trust’s stock worth $150,371,000 after acquiring an additional 934,843 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Franklin Street Properties by 131.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,089 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 17,100 shares in the last quarter.
Franklin Street Properties Company Profile (NYSEAMERICAN:FSP)
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.
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