Franklin Street Properties (NYSEAMERICAN:FSP) Upgraded at Zacks Investment Research

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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. “

Separately, B. Riley reduced their target price on shares of Franklin Street Properties from $7.00 to $6.50 in a report on Friday, February 18th.

Shares of NYSEAMERICAN:FSP traded down $0.02 during mid-day trading on Wednesday, reaching $5.53. 360,471 shares of the company were exchanged, compared to its average volume of 527,114. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $571.18 million, a P/E ratio of 11.52 and a beta of 0.87. Franklin Street Properties has a 1 year low of $4.41 and a 1 year high of $6.58.

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) last posted its quarterly earnings data on Monday, February 14th. The real estate investment trust reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). Franklin Street Properties had a return on equity of 6.78% and a net margin of 22.85%. Research analysts forecast that Franklin Street Properties will post 0.56 earnings per share for the current fiscal year.

In other Franklin Street Properties news, Director Brian N. Hansen bought 50,000 shares of Franklin Street Properties stock in a transaction on Friday, February 18th. The shares were bought at an average cost of $5.68 per share, for a total transaction of $284,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at $77,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at $121,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at $39,000. Confluence Investment Management LLC raised its stake in Franklin Street Properties by 30.3% during the 1st quarter. Confluence Investment Management LLC now owns 215,000 shares of the real estate investment trust’s stock worth $1,268,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Barclays PLC raised its stake in Franklin Street Properties by 29.3% during the 4th quarter. Barclays PLC now owns 166,031 shares of the real estate investment trust’s stock worth $987,000 after acquiring an additional 37,629 shares in the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

About Franklin Street Properties (Get Rating)

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.

Read More

Get a free copy of the Zacks research report on Franklin Street Properties (FSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Franklin Street Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Street Properties and related companies with MarketBeat.com's FREE daily email newsletter.