Franklin Street Properties Corp. (FSP) Position Boosted by Comerica Bank
Comerica Bank increased its stake in shares of Franklin Street Properties Corp. (NYSE:FSP) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 113,946 shares of the company’s stock after buying an additional 6,792 shares during the period. Comerica Bank’s holdings in Franklin Street Properties Corp. were worth $1,469,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in FSP. JNBA Financial Advisors bought a new stake in Franklin Street Properties Corp. during the fourth quarter valued at about $130,000. Signia Capital Management LLC raised its stake in Franklin Street Properties Corp. by 74.9% in the fourth quarter. Signia Capital Management LLC now owns 130,416 shares of the company’s stock valued at $1,690,000 after buying an additional 55,865 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Franklin Street Properties Corp. during the fourth quarter valued at about $1,874,000.
Shares of Franklin Street Properties Corp. (NYSE:FSP) opened at 11.85 on Tuesday. The company has a market cap of $1.27 billion and a price-to-earnings ratio of 146.30. The firm’s 50-day moving average price is $12.28 and its 200 day moving average price is $12.33. Franklin Street Properties Corp. has a 12-month low of $9.82 and a 12-month high of $13.27.
Franklin Street Properties Corp. (NYSE:FSP) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $66 million for the quarter, compared to analysts’ expectations of $62.24 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that Franklin Street Properties Corp. will post $0.13 earnings per share for the current year.
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Separately, Zacks Investment Research lowered Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a report on Monday, December 12th.
In other Franklin Street Properties Corp. news, Director John N. Burke acquired 2,070 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was purchased at an average price of $12.38 per share, for a total transaction of $25,626.60. Following the acquisition, the director now owns 20,914 shares in the company, valued at approximately $258,915.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Franklin Street Properties Corp. Company Profile
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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