Franklin Street Properties (NYSEAMERICAN:FSP) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “

Separately, BMO Capital Markets reaffirmed a hold rating and set a $45.00 price target on shares of SAP in a report on Wednesday, May 1st.

FSP opened at $7.65 on Wednesday. Franklin Street Properties has a twelve month low of $5.87 and a twelve month high of $9.22.

Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.21). The company had revenue of $64.72 million for the quarter, compared to analyst estimates of $62.50 million.

The business also recently disclosed a dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, July 18th.

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Franklin Street Properties by 334.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,510 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 5,010 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Franklin Street Properties in the 4th quarter worth about $77,000. Two Sigma Securities LLC bought a new position in shares of Franklin Street Properties in the 4th quarter worth about $85,000. CAPROCK Group Inc. bought a new position in shares of Franklin Street Properties in the 1st quarter worth about $93,000. Finally, Magnus Financial Group LLC bought a new position in shares of Franklin Street Properties in the 1st quarter worth about $104,000.

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.

Further Reading: Green Investing

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