Franklin Street Properties (FSP) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a buy rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “

Several other research firms have also issued reports on FSP. BidaskClub upgraded Franklin Street Properties from a strong sell rating to a sell rating in a research note on Thursday, November 9th. B. Riley restated a buy rating on shares of Franklin Street Properties in a research note on Thursday, November 2nd. Stifel Nicolaus restated a hold rating and issued a $10.00 price objective on shares of Franklin Street Properties in a research note on Thursday, September 21st. Janney Montgomery Scott assumed coverage on Franklin Street Properties in a research note on Friday, September 8th. They issued a buy rating on the stock. Finally, ValuEngine upgraded Franklin Street Properties from a hold rating to a buy rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $11.75.

Shares of Franklin Street Properties (NYSEAMERICAN FSP) traded down $0.12 during midday trading on Wednesday, reaching $10.40. The company had a trading volume of 299,671 shares, compared to its average volume of 363,000. Franklin Street Properties has a 1 year low of $9.59 and a 1 year high of $13.26. The firm has a market capitalization of $1,150.00, a PE ratio of -115.56 and a beta of 0.77.

Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Franklin Street Properties had a return on equity of 0.85% and a net margin of 2.77%. The firm had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $66.31 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in shares of Franklin Street Properties by 20.3% during the second quarter. BNP Paribas Arbitrage SA now owns 73,310 shares of the real estate investment trust’s stock worth $812,000 after purchasing an additional 12,358 shares during the period. First Trust Advisors LP increased its stake in shares of Franklin Street Properties by 164.8% during the second quarter. First Trust Advisors LP now owns 125,192 shares of the real estate investment trust’s stock worth $1,387,000 after purchasing an additional 77,915 shares during the period. Private Management Group Inc. increased its stake in shares of Franklin Street Properties by 4.5% during the third quarter. Private Management Group Inc. now owns 1,455,487 shares of the real estate investment trust’s stock worth $15,457,000 after purchasing an additional 62,887 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Franklin Street Properties by 8.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,061 shares of the real estate investment trust’s stock worth $13,508,000 after purchasing an additional 99,768 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Franklin Street Properties by 18.2% during the third quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock worth $22,887,000 after purchasing an additional 331,950 shares during the period.

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About Franklin Street Properties

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.

Analyst Recommendations for Franklin Street Properties (NYSEAMERICAN:FSP)

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