Bradley Foster & Sargent Inc. CT held its stake in shares of Franklin Street Properties Corp. (AMEX:FSP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,414 shares of the real estate investment trust’s stock at the end of the second quarter. Bradley Foster & Sargent Inc. CT’s holdings in Franklin Street Properties Corp. were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of FSP. Stratos Wealth Partners LTD. acquired a new stake in Franklin Street Properties Corp. during the 1st quarter worth $153,000. Virginia Retirement Systems ET AL increased its stake in Franklin Street Properties Corp. by 80.9% in the first quarter. Virginia Retirement Systems ET AL now owns 231,000 shares of the real estate investment trust’s stock valued at $2,804,000 after purchasing an additional 103,300 shares during the period. Bollard Group LLC increased its stake in Franklin Street Properties Corp. by 1.7% in the second quarter. Bollard Group LLC now owns 101,096 shares of the real estate investment trust’s stock valued at $1,120,000 after purchasing an additional 1,667 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Franklin Street Properties Corp. in the second quarter valued at about $2,713,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Franklin Street Properties Corp. in the first quarter valued at about $459,000.
Several brokerages have recently weighed in on FSP. Janney Montgomery Scott assumed coverage on shares of Franklin Street Properties Corp. in a report on Friday, September 8th. They issued a “buy” rating on the stock. ValuEngine downgraded shares of Franklin Street Properties Corp. from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded shares of Franklin Street Properties Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. FBR & Co reissued an “outperform” rating and issued a $13.00 price objective on shares of Franklin Street Properties Corp. in a research report on Tuesday, July 11th. Finally, BidaskClub lowered shares of Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.00.
Shares of Franklin Street Properties Corp. (AMEX:FSP) traded down 0.40% on Friday, hitting $9.93. 212,173 shares of the stock traded hands. The stock has a 50-day moving average price of $10.06 and a 200 day moving average price of $11.18. The stock’s market cap is $1.06 billion. Franklin Street Properties Corp. has a 12-month low of $9.59 and a 12-month high of $13.27.
Franklin Street Properties Corp. (AMEX:FSP) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. The company had revenue of $68.37 million for the quarter, compared to analysts’ expectations of $67.75 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Franklin Street Properties Corp. will post ($0.07) earnings per share for the current fiscal year.
In related news, Director Dennis J. Mcgillicuddy acquired 100,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were bought at an average price of $9.88 per share, for a total transaction of $988,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth A. Hoxsie purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $9.81 per share, for a total transaction of $29,430.00. Following the purchase, the director now owns 48,000 shares in the company, valued at approximately $470,880. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 131,275 shares of company stock worth $1,299,392.
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Franklin Street Properties Corp. 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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