Franklin Street Properties Corp. (NYSEAMERICAN:FSP) saw a significant decrease in short interest in September. As of September 14th, there was short interest totalling 2,182,422 shares, a decrease of 1.2% from the August 31st total of 2,209,746 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily trading volume, of 243,750 shares, the short-interest ratio is currently 9.0 days.
A number of equities analysts recently issued reports on FSP shares. Stifel Nicolaus raised shares of Franklin Street Properties from a “sell” rating to a “hold” rating and increased their price target for the stock from $6.50 to $8.00 in a research note on Thursday, May 31st. Zacks Investment Research downgraded shares of Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Robert W. Baird raised shares of Franklin Street Properties from a “neutral” rating to an “outperform” rating in a research note on Friday, June 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.94.
Shares of NYSEAMERICAN FSP opened at $7.75 on Friday. Franklin Street Properties has a fifty-two week low of $7.08 and a fifty-two week high of $11.00.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.23). Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%. The business had revenue of $66.69 million for the quarter, compared to the consensus estimate of $65.67 million.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of Franklin Street Properties during the second quarter valued at approximately $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Franklin Street Properties during the second quarter valued at approximately $107,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Franklin Street Properties during the first quarter valued at approximately $118,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Franklin Street Properties during the second quarter valued at approximately $155,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Franklin Street Properties by 102.7% during the second quarter. Advisors Asset Management Inc. now owns 67,455 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 34,181 shares during the last quarter.
About Franklin Street Properties
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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