Algert Global LLC Acquires 33,233 Shares of Franklin Street Properties Corp. (NYSE:FSP)

Algert Global LLC grew its stake in Franklin Street Properties Corp. (NYSE:FSP) by 123.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,225 shares of the company’s stock after purchasing an additional 33,233 shares during the period. Algert Global LLC owned approximately 0.06% of Franklin Street Properties worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FSP. Cannon Global Investment Management LLC acquired a new position in Franklin Street Properties during the first quarter worth $25,000. Point72 DIFC Ltd acquired a new stake in shares of Franklin Street Properties during the 2nd quarter worth about $34,000. Fifth Lane Capital LP bought a new position in Franklin Street Properties during the 1st quarter valued at about $56,000. The Manufacturers Life Insurance Company bought a new stake in Franklin Street Properties during the second quarter worth about $66,000. Finally, Bfsg LLC increased its holdings in shares of Franklin Street Properties by 16.2% during the second quarter. Bfsg LLC now owns 63,410 shares of the company’s stock worth $97,000 after buying an additional 8,860 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

Franklin Street Properties Stock Performance

Shares of NYSE:FSP opened at $1.60 on Friday. The business has a fifty day moving average of $1.66 and a 200-day moving average of $1.78. The firm has a market cap of $165.71 million, a PE ratio of -2.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 2.79. Franklin Street Properties Corp. has a twelve month low of $1.47 and a twelve month high of $2.72.

Franklin Street Properties (NYSE:FSP) last announced its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter. On average, equities research analysts predict that Franklin Street Properties Corp. will post 0.13 EPS for the current fiscal year.

Franklin Street Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, October 18th. Franklin Street Properties’s dividend payout ratio (DPR) is presently -5.88%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Franklin Street Properties from a “sell” rating to a “hold” rating in a report on Saturday, September 28th.

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.