Metropolitan Life Insurance Co. NY trimmed its stake in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 52.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,049 shares of the real estate investment trust’s stock after selling 40,025 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Franklin Street Properties were worth $387,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Zeke Capital Advisors LLC bought a new position in shares of Franklin Street Properties in the 4th quarter valued at approximately $110,000. Verition Fund Management LLC bought a new position in shares of Franklin Street Properties in the 4th quarter valued at approximately $111,000. Virtu Financial LLC bought a new position in shares of Franklin Street Properties in the 4th quarter valued at approximately $114,000. SeaCrest Wealth Management LLC bought a new position in shares of Franklin Street Properties in the 4th quarter valued at approximately $141,000. Finally, Schroder Investment Management Group bought a new position in shares of Franklin Street Properties in the 3rd quarter valued at approximately $144,000.

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Shares of NYSEAMERICAN FSP opened at $7.84 on Tuesday. Franklin Street Properties Corp. has a 12 month low of $7.08 and a 12 month high of $12.71.

Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.30). The business had revenue of $66.84 million during the quarter, compared to the consensus estimate of $67.68 million. Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, April 19th.

A number of research analysts recently weighed in on FSP shares. Zacks Investment Research downgraded Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. BMO Capital Markets set a $11.00 price objective on Franklin Street Properties and gave the company a “hold” rating in a research note on Wednesday, February 14th. Stifel Nicolaus downgraded Franklin Street Properties from a “hold” rating to a “sell” rating and cut their price objective for the company from $10.00 to $7.00 in a research note on Wednesday, February 14th. B. Riley downgraded Franklin Street Properties from a “buy” rating to a “neutral” rating and cut their price objective for the company from $12.50 to $10.00 in a research note on Thursday, February 15th. Finally, Janney Montgomery Scott downgraded Franklin Street Properties from a “buy” rating to a “neutral” rating in a research note on Monday, April 9th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.33.

In other Franklin Street Properties news, CEO George J. Carter purchased 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $8.85 per share, with a total value of $44,250.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 11,718 shares of company stock worth $100,834.

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About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.

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Institutional Ownership by Quarter for Franklin Street Properties (NYSEAMERICAN:FSP)

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