New York State Teachers Retirement System decreased its position in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 14.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,323 shares of the real estate investment trust’s stock after selling 15,500 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Franklin Street Properties worth $799,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Franklin Street Properties in the second quarter worth $100,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Franklin Street Properties in the first quarter worth $118,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Franklin Street Properties in the second quarter worth $155,000. Pensionfund Sabic purchased a new stake in shares of Franklin Street Properties in the second quarter worth $171,000. Finally, Element Capital Management LLC purchased a new stake in shares of Franklin Street Properties in the first quarter worth $205,000.
FSP has been the topic of several recent analyst reports. Zacks Investment Research raised Franklin Street Properties from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a research report on Wednesday, July 4th. Robert W. Baird raised Franklin Street Properties from a “neutral” rating to an “outperform” rating in a research report on Friday, June 29th. Finally, Stifel Nicolaus raised Franklin Street Properties from a “sell” rating to a “hold” rating and increased their price objective for the company from $6.50 to $8.00 in a research report on Thursday, May 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Franklin Street Properties currently has a consensus rating of “Hold” and a consensus target price of $8.94.
Franklin Street Properties stock opened at $8.48 on Monday. Franklin Street Properties Corp. has a one year low of $7.08 and a one year high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.23). Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%. The business had revenue of $66.69 million for the quarter, compared to analysts’ expectations of $65.67 million.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 9th. Shareholders of record on Friday, July 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 19th. This represents a $0.36 annualized dividend and a yield of 4.25%.
Franklin Street Properties Company Profile
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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