Franklin Street Properties (NYSE:FSP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Franklin Street Properties (NYSE:FSP) from a sell rating to a hold rating in a research note published on Tuesday morning.

Franklin Street Properties Price Performance

NYSE:FSP opened at $1.74 on Tuesday. The firm has a market cap of $179.97 million, a price-to-earnings ratio of -3.11 and a beta of 0.82. 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 has a 52 week low of $1.47 and a 52 week high of $2.72. The firm’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $1.84.

Franklin Street Properties (NYSE:FSP) last posted its quarterly 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 net margin of 52.85% and a negative return on equity of 10.06%. The company had revenue of $30.83 million during the quarter. As a group, sell-side analysts predict that Franklin Street Properties will post 0.13 earnings per share for the current year.

Franklin Street Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, July 19th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.30%. Franklin Street Properties’s payout ratio is currently -7.14%.

Institutional Investors Weigh In On Franklin Street Properties

A number of hedge funds have recently made changes to their positions in FSP. Private Management Group Inc. boosted its position in Franklin Street Properties by 30.0% during the 2nd quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock worth $13,081,000 after buying an additional 1,970,790 shares during the period. Confluence Investment Management LLC acquired a new stake in Franklin Street Properties during the 1st quarter worth approximately $2,796,000. Acuitas Investments LLC boosted its position in Franklin Street Properties by 39.5% during the 2nd quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock worth $3,176,000 after buying an additional 587,401 shares during the period. Acadian Asset Management LLC boosted its position in Franklin Street Properties by 25.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock worth $5,050,000 after buying an additional 458,235 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Franklin Street Properties by 1,005.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock worth $459,000 after buying an additional 272,622 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.