Franklin Street Properties (NYSE:FSP) Upgraded at StockNews.com

Franklin Street Properties (NYSE:FSP) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Franklin Street Properties Stock Down 1.2 %

NYSE FSP opened at $1.70 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.44. Franklin Street Properties has a 1-year low of $1.47 and a 1-year high of $2.72. The company has a 50 day moving average of $1.68 and a 200-day moving average of $1.82. The company has a market cap of $176.07 million, a price-to-earnings ratio of -3.04 and a beta of 0.82.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. The company had revenue of $30.83 million for the quarter. On average, equities research analysts expect that Franklin Street Properties will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franklin Street Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cannon Global Investment Management LLC purchased a new stake in Franklin Street Properties in the 1st quarter valued at about $25,000. Point72 DIFC Ltd purchased a new stake in Franklin Street Properties in the 2nd quarter valued at about $34,000. Fifth Lane Capital LP purchased a new stake in Franklin Street Properties in the 1st quarter valued at about $56,000. The Manufacturers Life Insurance Company purchased a new stake in Franklin Street Properties in the 2nd quarter valued at about $66,000. Finally, Algert Global LLC increased its stake in Franklin Street Properties by 123.1% in the 2nd quarter. Algert Global LLC now owns 60,225 shares of the company’s stock valued at $92,000 after buying an additional 33,233 shares during the last quarter. Institutional investors and hedge funds own 61.41% 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.