StockNews.com Upgrades Franklin Street Properties (NYSE:FSP) to “Hold”

Franklin Street Properties (NYSE:FSP) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Franklin Street Properties Trading Down 1.2 %

Shares of FSP stock opened at $1.70 on Friday. Franklin Street Properties has a fifty-two week low of $1.47 and a fifty-two week high of $2.72. The firm’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $1.81. The stock has a market cap of $175.83 million, a price-to-earnings ratio of -3.04 and a beta of 0.82. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.44.

Franklin Street Properties (NYSE:FSP) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Franklin Street Properties had a negative net margin of 52.85% and a negative return on equity of 10.06%. The firm had revenue of $30.83 million for the quarter. On average, analysts anticipate that Franklin Street Properties will post 0.13 EPS for the current year.

Institutional Trading of Franklin Street Properties

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Management Group Inc. raised its position in shares of Franklin Street Properties by 30.0% during the second quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock worth $13,081,000 after purchasing an additional 1,970,790 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of Franklin Street Properties in the 1st quarter valued at approximately $2,796,000. Acuitas Investments LLC boosted its stake in Franklin Street Properties by 39.5% in the 2nd quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock worth $3,176,000 after purchasing an additional 587,401 shares during the period. Acadian Asset Management LLC grew its stake in Franklin Street Properties by 25.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock valued at $5,050,000 after acquiring an additional 458,235 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Franklin Street Properties by 1,005.2% during the second quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock valued at $459,000 after purchasing an additional 272,622 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors.

About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.