Financial & Investment Management Group Ltd. decreased its position in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 559,300 shares of the real estate investment trust’s stock after selling 31,502 shares during the quarter. Franklin Street Properties comprises approximately 1.5% of Financial & Investment Management Group Ltd.’s investment portfolio, making the stock its 25th biggest holding. Financial & Investment Management Group Ltd.’s holdings in Franklin Street Properties were worth $4,469,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Systematic Financial Management LP raised its holdings in shares of Franklin Street Properties by 4.2% in the second quarter. Systematic Financial Management LP now owns 174,320 shares of the real estate investment trust’s stock valued at $1,492,000 after purchasing an additional 7,025 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Franklin Street Properties by 23.7% in the first quarter. Royal Bank of Canada now owns 38,932 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 7,469 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Franklin Street Properties in the second quarter valued at approximately $100,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Franklin Street Properties in the second quarter valued at approximately $107,000. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Franklin Street Properties by 65.4% in the first quarter. Xact Kapitalforvaltning AB now owns 38,685 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 15,300 shares during the last quarter.
A number of analysts have recently issued reports on FSP shares. Zacks Investment Research upgraded shares of Franklin Street Properties from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a report on Wednesday, July 4th. Robert W. Baird upgraded shares of Franklin Street Properties from a “neutral” rating to an “outperform” rating in a report on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.94.
FSP traded down $0.11 during trading on Thursday, reaching $7.17. 11,544 shares of the stock were exchanged, compared to its average volume of 409,838. Franklin Street Properties Corp. has a twelve month low of $7.03 and a twelve month high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.23). The firm had revenue of $66.69 million for the quarter, compared to analyst estimates of $65.67 million. Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Friday, October 19th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, October 18th. This represents a $0.36 dividend on an annualized basis and a yield of 5.02%.
Franklin Street Properties 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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