Q1 2024 EPS Estimates for Franklin Street Properties Corp. Reduced by B. Riley (NYSEAMERICAN:FSP)

Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) – Research analysts at B. Riley lowered their Q1 2024 earnings per share estimates for Franklin Street Properties in a note issued to investors on Tuesday, May 16th. B. Riley analyst C. Kucera now forecasts that the real estate investment trust will post earnings per share of $0.07 for the quarter, down from their prior estimate of $0.09. The consensus estimate for Franklin Street Properties’ current full-year earnings is $0.34 per share. B. Riley also issued estimates for Franklin Street Properties’ Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.29 EPS.

A number of other research firms have also recently issued reports on FSP. TheStreet cut Franklin Street Properties from a “c-” rating to a “d” rating in a research report on Wednesday, February 15th. StockNews.com cut Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd.

Franklin Street Properties Stock Up 4.1 %

FSP stock opened at $1.54 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day moving average of $2.30. The company has a market capitalization of $158.99 million, a P/E ratio of 154.15 and a beta of 0.85. Franklin Street Properties has a twelve month low of $1.13 and a twelve month high of $4.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP lifted its stake in shares of Franklin Street Properties by 724.8% in the 1st quarter. Susquehanna International Group LLP now owns 714,636 shares of the real estate investment trust’s stock valued at $1,122,000 after purchasing an additional 627,996 shares during the period. Jane Street Group LLC raised its stake in Franklin Street Properties by 169.4% during the 1st quarter. Jane Street Group LLC now owns 1,075,791 shares of the real estate investment trust’s stock worth $1,689,000 after buying an additional 676,484 shares during the period. Graham Capital Management L.P. raised its stake in Franklin Street Properties by 691.2% during the 1st quarter. Graham Capital Management L.P. now owns 889,087 shares of the real estate investment trust’s stock worth $1,396,000 after buying an additional 776,717 shares during the period. AQR Capital Management LLC raised its stake in Franklin Street Properties by 307.8% during the 1st quarter. AQR Capital Management LLC now owns 1,409,848 shares of the real estate investment trust’s stock worth $2,213,000 after buying an additional 1,064,139 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Franklin Street Properties during the 1st quarter worth approximately $4,803,000. 83.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Dennis J. Mcgillicuddy acquired 25,000 shares of Franklin Street Properties stock in a transaction that occurred on Monday, March 6th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $56,250.00. Following the transaction, the director now directly owns 3,271,136 shares of the company’s stock, valued at approximately $7,360,056. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dennis J. Mcgillicuddy bought 25,000 shares of the business’s stock in a transaction on Monday, March 6th. The shares were purchased at an average cost of $2.25 per share, with a total value of $56,250.00. Following the acquisition, the director now owns 3,271,136 shares of the company’s stock, valued at $7,360,056. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian N. Hansen bought 35,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were bought at an average cost of $2.63 per share, for a total transaction of $92,050.00. Following the completion of the acquisition, the director now directly owns 603,066 shares in the company, valued at approximately $1,586,063.58. The disclosure for this purchase can be found here. Insiders have bought 225,903 shares of company stock worth $554,399 in the last 90 days. Insiders own 5.28% of the company’s stock.

Franklin Street Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Friday, April 21st were given a dividend of $0.01 per share. The ex-dividend date was Thursday, April 20th. This represents a $0.04 dividend on an annualized basis and a yield of 2.60%. Franklin Street Properties’s dividend payout ratio is currently 400.40%.

Franklin Street Properties Company Profile

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Franklin Street Properties Corp. is an investment company, which engages in the operation of real estate. It operates through the Real Estate Operations segment. The Real Estate Operation segment is involved in real estate rental operations, leasing, secured financing of real estate, and services provided for asset management, property management, property acquisitions, dispositions and development.