Franklin Street Properties (FSP) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a buy rating to a hold rating in a report published on Wednesday.
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. “
FSP has been the subject of a number of other research reports. Stifel Nicolaus reiterated a hold rating and issued a $10.00 price objective on shares of Franklin Street Properties in a report on Thursday, September 21st. BidaskClub upgraded shares of Franklin Street Properties from a strong sell rating to a sell rating in a report on Thursday, November 9th. ValuEngine upgraded shares of Franklin Street Properties from a hold rating to a buy rating in a report on Monday, October 2nd. Janney Montgomery Scott started coverage on shares of Franklin Street Properties in a report on Friday, September 8th. They issued a buy rating for the company. Finally, B. Riley reiterated a buy rating on shares of Franklin Street Properties in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $11.75.
Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. The firm had revenue of $67.30 million for the quarter, compared to analyst estimates of $66.31 million. Franklin Street Properties had a net margin of 2.77% and a return on equity of 0.85%. Franklin Street Properties’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.26 EPS.
Hedge funds have recently added to or reduced their stakes in the business. Shelton Capital Management acquired a new stake in Franklin Street Properties in the 2nd quarter valued at about $111,000. Sei Investments Co. increased its holdings in shares of Franklin Street Properties by 2,435.8% during the 2nd quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 10,693 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Franklin Street Properties during the 3rd quarter worth approximately $144,000. Neuberger Berman Group LLC increased its holdings in shares of Franklin Street Properties by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 14,002 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 113 shares during the last quarter. Finally, QS Investors LLC increased its holdings in shares of Franklin Street Properties by 9.6% during the 2nd quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 1,220 shares during the last quarter.
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Franklin Street Properties 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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