Raymond James & Associates cut its holdings in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 15.3% during the 4th quarter, Holdings Channel reports. The firm owned 42,586 shares of the real estate investment trust’s stock after selling 7,684 shares during the quarter. Raymond James & Associates’ holdings in Franklin Street Properties were worth $265,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund increased its holdings in shares of Franklin Street Properties by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 70,171 shares of the real estate investment trust’s stock valued at $437,000 after acquiring an additional 2,701 shares during the last quarter. BlackRock Inc. boosted its position in Franklin Street Properties by 2.7% during the 4th quarter. BlackRock Inc. now owns 18,622,637 shares of the real estate investment trust’s stock valued at $116,020,000 after purchasing an additional 494,544 shares during the period. Utah Retirement Systems boosted its position in Franklin Street Properties by 10.5% during the 4th quarter. Utah Retirement Systems now owns 16,847 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,600 shares during the period. Summit Global Investments acquired a new position in Franklin Street Properties during the 4th quarter valued at approximately $592,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Franklin Street Properties by 22.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,396 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 3,700 shares during the period.
Shares of FSP stock opened at $7.67 on Monday. Franklin Street Properties Corp. has a 1 year low of $5.87 and a 1 year high of $9.22.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.22). The business had revenue of $66.58 million during the quarter, compared to the consensus estimate of $65.93 million.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 19th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, April 17th. This represents a $0.36 dividend on an annualized basis and a yield of 4.69%.
A number of research analysts recently issued reports on FSP shares. BMO Capital Markets restated a “hold” rating and set a $8.00 price objective on shares of Franklin Street Properties in a research report on Tuesday, February 12th. TheStreet lowered Franklin Street Properties from a “c” rating to a “d+” rating in a research report on Wednesday, March 6th. Finally, Zacks Investment Research lowered Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.69.
Franklin Street Properties Company Profile
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.
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