Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,574,060 shares, a growth of 23.5% from the October 31st total of 1,274,425 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 366,035 shares, the short-interest ratio is currently 4.3 days.
In related news, Director Brian N. Hansen acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were acquired at an average price of $9.94 per share, with a total value of $74,550.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dennis J. Mcgillicuddy acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were bought at an average cost of $9.88 per share, for a total transaction of $988,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,000 shares of company stock worth $1,187,050 in the last three months.
Several large investors have recently added to or reduced their stakes in FSP. Daiwa Securities Group Inc. raised its holdings in shares of Franklin Street Properties by 8.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,200 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 700 shares in the last quarter. Shelton Capital Management purchased a new position in shares of Franklin Street Properties during the 2nd quarter valued at about $111,000. Sei Investments Co. raised its holdings in shares of Franklin Street Properties by 2,435.8% during the 2nd quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 10,693 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Franklin Street Properties during the 3rd quarter valued at about $144,000. Finally, Neuberger Berman Group LLC raised its holdings in shares of Franklin Street Properties by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 14,002 shares of the real estate investment trust’s stock valued at $155,000 after buying an additional 113 shares in the last quarter.
Franklin Street Properties (NYSEAMERICAN:FSP) traded down $0.07 during trading hours on Monday, hitting $10.80. The company’s stock had a trading volume of 291,257 shares, compared to its average volume of 406,055. Franklin Street Properties has a 1 year low of $9.59 and a 1 year high of $13.27.
Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Franklin Street Properties had a return on equity of 0.85% and a net margin of 2.77%. The firm had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $66.31 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue was up 8.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 20th were issued a $0.19 dividend. The ex-dividend date was Thursday, October 19th. This represents a $0.76 annualized dividend and a dividend yield of 7.04%. Franklin Street Properties’s payout ratio is currently -844.44%.
A number of analysts recently issued reports on FSP shares. BidaskClub raised Franklin Street Properties from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Janney Montgomery Scott started coverage on Franklin Street Properties in a report on Friday, September 8th. They set a “buy” rating on the stock. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price objective on shares of Franklin Street Properties in a report on Thursday, September 21st. ValuEngine cut Franklin Street Properties from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, B. Riley reaffirmed a “buy” rating on shares of Franklin Street Properties in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Franklin Street Properties has an average rating of “Buy” and a consensus target price of $11.75.
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About Franklin Street Properties
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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