Global X Management Co. LLC increased its position in Franklin Street Properties Corp. (AMEX:FSP) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 734,758 shares of the real estate investment trust’s stock after buying an additional 33,228 shares during the period. Global X Management Co. LLC’s holdings in Franklin Street Properties Corp. were worth $8,141,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Miles Capital Inc. raised its stake in shares of 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Franklin Street Properties Corp. by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 53,916 shares of the real estate investment trust’s stock worth $654,000 after buying an additional 216 shares in the last quarter. Eads & Heald Investment Counsel raised its stake in shares of Franklin Street Properties Corp. by 2.2% in the second quarter. Eads & Heald Investment Counsel now owns 14,475 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 310 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Franklin Street Properties Corp. by 0.9% in the first quarter. HighTower Advisors LLC now owns 37,155 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 336 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Franklin Street Properties Corp. by 0.4% in the first quarter. Wells Fargo & Company MN now owns 106,583 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 431 shares in the last quarter.

Franklin Street Properties Corp. (AMEX:FSP) opened at 10.03 on Friday. Franklin Street Properties Corp. has a 12-month low of $9.74 and a 12-month high of $13.27. The stock has a 50 day moving average price of $10.72 and a 200 day moving average price of $11.62. The company’s market capitalization is $1.08 billion.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Friday, July 21st were issued a $0.19 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 7.58%. Franklin Street Properties Corp.’s payout ratio is currently 330.43%.

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A number of analysts have commented on the company. Zacks Investment Research raised Franklin Street Properties Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. FBR & Co reissued an “outperform” rating and set a $13.00 price objective on shares of Franklin Street Properties Corp. in a report on Tuesday, July 11th. ValuEngine raised Franklin Street Properties Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, BidaskClub lowered Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $13.00.

In other news, Director Kathryn P. O’neil acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was bought at an average cost of $11.33 per share, for a total transaction of $56,650.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 17,070 shares of company stock valued at $185,573.

About Franklin Street Properties Corp.

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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