Franklin Street Properties Corp. (NYSE:FSP) Shares Purchased by Private Management Group Inc.

Private Management Group Inc. increased its stake in shares of Franklin Street Properties Corp. (NYSE:FSP) by 7.9% in the 3rd quarter, Holdings Channel reports. The firm owned 9,222,820 shares of the company’s stock after purchasing an additional 673,231 shares during the period. Private Management Group Inc. owned 0.09% of Franklin Street Properties worth $16,324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FSP. Acadian Asset Management LLC raised its holdings in Franklin Street Properties by 25.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock valued at $5,050,000 after acquiring an additional 458,235 shares during the last quarter. Algert Global LLC raised its holdings in Franklin Street Properties by 123.1% in the 2nd quarter. Algert Global LLC now owns 60,225 shares of the company’s stock valued at $92,000 after acquiring an additional 33,233 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Franklin Street Properties by 38.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 221,282 shares of the company’s stock valued at $502,000 after acquiring an additional 61,038 shares during the last quarter. Vanguard Group Inc. raised its holdings in Franklin Street Properties by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,236,758 shares of the company’s stock valued at $18,697,000 after acquiring an additional 25,568 shares during the last quarter. Finally, Acuitas Investments LLC raised its holdings in Franklin Street Properties by 39.5% in the 2nd quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock valued at $3,176,000 after acquiring an additional 587,401 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Franklin Street Properties Trading Up 8.5 %

Shares of Franklin Street Properties stock traded up $0.15 during mid-day trading on Friday, hitting $1.92. The stock had a trading volume of 944,212 shares, compared to its average volume of 619,576. The firm has a 50-day moving average of $1.72 and a two-hundred day moving average of $1.73. Franklin Street Properties Corp. has a 12-month low of $1.47 and a 12-month high of $2.72. The company has a quick ratio of 2.79, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $198.85 million, a P/E ratio of -4.91 and a beta of 0.81.

Franklin Street Properties (NYSE:FSP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. The firm had revenue of $29.68 million during the quarter. During the same period last year, the business posted ($0.44) earnings per share. Sell-side analysts forecast that Franklin Street Properties Corp. will post 0.13 earnings per share for the current year.

Franklin Street Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Friday, October 18th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, October 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.08%. Franklin Street Properties’s payout ratio is currently -10.26%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

Franklin Street Properties Profile

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.