Franklin Street Properties (NYSE:FSP) Shares Break Below 50 Day Moving Average – Here’s What Happened

Franklin Street Properties Corp. (NYSE:FSP) passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $0.38 and traded as low as $0.3137. Franklin Street Properties shares last traded at $0.3225, with a volume of 2,426,731 shares.

Franklin Street Properties Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a market capitalization of $33.54 million, a price-to-earnings ratio of -0.65 and a beta of 0.87. The business’s fifty day simple moving average is $0.38 and its 200 day simple moving average is $0.57.

Hedge Funds Weigh In On Franklin Street Properties

Institutional investors and hedge funds have recently made changes to their positions in the stock. Secure Asset Management LLC grew its stake in shares of Franklin Street Properties by 73.3% in the 3rd quarter. Secure Asset Management LLC now owns 72,342 shares of the company’s stock valued at $27,000 after buying an additional 30,600 shares during the period. Integrated Wealth Concepts LLC increased its position in Franklin Street Properties by 21.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 148,891 shares of the company’s stock valued at $77,000 after buying an additional 26,537 shares in the last quarter. Susquehanna International Group LLP increased its position in Franklin Street Properties by 1,373.1% in the 2nd quarter. Susquehanna International Group LLP now owns 442,807 shares of the company’s stock valued at $228,000 after buying an additional 412,747 shares in the last quarter. Private Management Group Inc. raised its stake in Franklin Street Properties by 1.1% during the 2nd quarter. Private Management Group Inc. now owns 10,161,175 shares of the company’s stock worth $5,233,000 after buying an additional 107,557 shares during the period. Finally, Bank of America Corp DE acquired a new position in Franklin Street Properties during the 2nd quarter worth approximately $2,466,000. Institutional investors own 61.41% of the company’s stock.

Franklin Street Properties Company Profile

Franklin Street Properties Corp. (NYSE: FSP) is a real estate investment trust focused on owning, operating and managing commercial office properties in the United States. The company’s portfolio has historically included office buildings in metropolitan and suburban markets, with an emphasis on properties intended for business and professional tenants.

Through its real estate operations, Franklin Street Properties provides workspace to a range of commercial occupants and generates revenue primarily from leasing office space.