JPMorgan Chase & Co. Acquires 114,161 Shares of Franklin Street Properties Corp. (NYSE:FSP)

JPMorgan Chase & Co. lifted its stake in Franklin Street Properties Corp. (NYSE:FSP) by 97.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 231,681 shares of the company’s stock after buying an additional 114,161 shares during the quarter. JPMorgan Chase & Co.’s holdings in Franklin Street Properties were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Franklin Street Properties by 33.4% in the third quarter. BNP Paribas Financial Markets now owns 21,718 shares of the company’s stock worth $38,000 after acquiring an additional 5,433 shares during the last quarter. Bfsg LLC lifted its stake in Franklin Street Properties by 11.1% during the 3rd quarter. Bfsg LLC now owns 70,430 shares of the company’s stock valued at $125,000 after acquiring an additional 7,020 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Franklin Street Properties by 92.1% during the 3rd quarter. SG Americas Securities LLC now owns 32,846 shares of the company’s stock valued at $58,000 after acquiring an additional 15,750 shares during the last quarter. State Street Corp boosted its holdings in shares of Franklin Street Properties by 1.8% during the 3rd quarter. State Street Corp now owns 1,205,604 shares of the company’s stock valued at $2,134,000 after acquiring an additional 20,987 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Franklin Street Properties in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Franklin Street Properties Price Performance

FSP stock opened at $1.78 on Thursday. The company has a market capitalization of $184.35 million, a PE ratio of -4.56 and a beta of 0.82. Franklin Street Properties Corp. has a one year low of $1.47 and a one year high of $2.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company’s fifty day moving average price is $1.87 and its 200-day moving average price is $1.77.

Franklin Street Properties (NYSE:FSP) last posted its earnings results on Tuesday, October 29th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The firm had revenue of $29.68 million for the quarter. Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. During the same period in the prior year, the company earned ($0.44) EPS. On average, equities analysts anticipate that Franklin Street Properties Corp. will post 0.14 EPS for the current fiscal year.

Franklin Street Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.04 annualized dividend and a yield of 2.25%. Franklin Street Properties’s payout ratio is currently -10.26%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

Insider Activity at Franklin Street Properties

In other Franklin Street Properties news, Director Bruce J. Schanzer acquired 43,311 shares of Franklin Street Properties stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $1.89 per share, with a total value of $81,857.79. Following the completion of the purchase, the director now directly owns 3,489,374 shares of the company’s stock, valued at approximately $6,594,916.86. This represents a 1.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey B. Carter acquired 18,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $2.12 per share, with a total value of $39,220.00. Following the completion of the purchase, the insider now directly owns 18,500 shares in the company, valued at $39,220. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 172,400 shares of company stock worth $327,879. Company insiders own 6.20% of the company’s stock.

Franklin Street Properties Company Profile

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.