First Manhattan Co. continued to hold its stake in Franklin Street Properties Corp. (AMEX:FSP) during the second quarter, Holdings Channel reports. The firm owned 27,661 shares of the real estate investment trust’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Franklin Street Properties Corp. were worth $306,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Franklin Street Properties Corp. by 34.9% in the first quarter. Daiwa Securities Group Inc. now owns 8,500 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 2,200 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Franklin Street Properties Corp. during the first quarter worth about $110,000. Stratos Wealth Partners LTD. purchased a new stake in Franklin Street Properties Corp. during the first quarter worth about $153,000. Eads & Heald Investment Counsel increased its stake in Franklin Street Properties Corp. by 10.9% in the first quarter. Eads & Heald Investment Counsel now owns 14,165 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,395 shares during the last quarter. Finally, Miles Capital Inc. increased its stake in Franklin Street Properties Corp. by 0.3% in the first quarter. Miles Capital Inc. now owns 17,752 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 48 shares during the last quarter.

Shares of Franklin Street Properties Corp. (FSP) opened at 9.93 on Thursday. The firm has a 50-day moving average price of $10.75 and a 200-day moving average price of $11.63. Franklin Street Properties Corp. has a 1-year low of $9.74 and a 1-year high of $13.27. The company’s market cap is $1.06 billion.

Franklin Street Properties Corp. (AMEX:FSP) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. The business had revenue of $68.37 million during the quarter, compared to analysts’ expectations of $67.75 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts expect that Franklin Street Properties Corp. will post $0.10 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.65%. Franklin Street Properties Corp.’s payout ratio is currently 330.43%.

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A number of research firms have issued reports on FSP. ValuEngine downgraded Franklin Street Properties Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research downgraded Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. FBR & Co reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Franklin Street Properties Corp. in a research note on Tuesday, July 11th. Finally, Robert W. Baird downgraded Franklin Street Properties Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $12.00 in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Franklin Street Properties Corp. presently has an average rating of “Hold” and a consensus target price of $13.00.

In other news, Director Georgia Murray bought 5,000 shares of Franklin Street Properties Corp. stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of $11.20 per share, with a total value of $56,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 17,070 shares of company stock valued at $185,573 in the last three months.

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.

Want to see what other hedge funds are holding FSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Street Properties Corp. (AMEX:FSP).

Institutional Ownership by Quarter for Franklin Street Properties Corp. (AMEX:FSP)

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