Acadian Asset Management LLC Boosts Stake in Franklin Street Properties Corp. (NYSE:FSP)

Acadian Asset Management LLC increased its position in Franklin Street Properties Corp. (NYSE:FSP) by 490.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,062,645 shares of the company’s stock after purchasing an additional 882,713 shares during the period. Acadian Asset Management LLC owned 1.03% of Franklin Street Properties worth $1,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can lifted its holdings in shares of Franklin Street Properties by 1.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 165,107 shares of the company’s stock valued at $1,002,000 after purchasing an additional 2,802 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Franklin Street Properties by 4.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 94,978 shares of the company’s stock valued at $250,000 after acquiring an additional 3,770 shares during the period. Prudential Financial Inc. increased its position in Franklin Street Properties by 0.5% in the 1st quarter. Prudential Financial Inc. now owns 1,061,356 shares of the company’s stock valued at $6,262,000 after acquiring an additional 5,300 shares during the period. State of Tennessee Treasury Department increased its position in Franklin Street Properties by 8.7% in the 4th quarter. State of Tennessee Treasury Department now owns 73,844 shares of the company’s stock valued at $202,000 after acquiring an additional 5,899 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Franklin Street Properties by 10.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 63,278 shares of the company’s stock valued at $167,000 after acquiring an additional 5,942 shares during the period. 92.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FSP shares. B. Riley dropped their price target on Franklin Street Properties from $3.50 to $2.50 in a research report on Tuesday, May 16th. StockNews.com started coverage on Franklin Street Properties in a research report on Thursday, August 17th. They issued a “sell” rating on the stock.

Franklin Street Properties Trading Up 1.6 %

NYSE FSP opened at $1.95 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $1.71. Franklin Street Properties Corp. has a 12-month low of $1.13 and a 12-month high of $3.21. The firm has a market cap of $201.69 million, a PE ratio of 24.38 and a beta of 0.84.

Franklin Street Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, July 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, July 20th. Franklin Street Properties’s payout ratio is 50.00%.

Insiders Place Their Bets

In other news, Director Brian N. Hansen purchased 19,705 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $1.79 per share, with a total value of $35,271.95. Following the purchase, the director now directly owns 1,064,479 shares of the company’s stock, valued at $1,905,417.41. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have acquired 36,413 shares of company stock worth $65,346. Company insiders own 5.28% of the company’s stock.

About Franklin Street Properties

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.