Franklin Street Properties Corp. (FSP) Holdings Trimmed by Forsta AP Fonden
Forsta AP Fonden reduced its stake in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 38.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,700 shares of the real estate investment trust’s stock after selling 15,400 shares during the quarter. Forsta AP Fonden’s holdings in Franklin Street Properties were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Public Employees Retirement Association of Colorado acquired a new stake in shares of Franklin Street Properties in the third quarter valued at approximately $302,000. Russell Investments Group Ltd. boosted its position in Franklin Street Properties by 57.5% during the third quarter. Russell Investments Group Ltd. now owns 57,377 shares of the real estate investment trust’s stock worth $458,000 after acquiring an additional 20,947 shares during the last quarter. First American Bank acquired a new stake in Franklin Street Properties during the third quarter worth approximately $148,000. State of Alaska Department of Revenue boosted its position in Franklin Street Properties by 97.5% during the third quarter. State of Alaska Department of Revenue now owns 68,746 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 33,939 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Franklin Street Properties by 102.7% during the second quarter. Advisors Asset Management Inc. now owns 67,455 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 34,181 shares during the last quarter.
A number of research firms have weighed in on FSP. B. Riley raised shares of Franklin Street Properties from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 5th. Finally, BMO Capital Markets raised shares of Franklin Street Properties from an “underperform” rating to a “market perform” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.69.
Franklin Street Properties (NYSEAMERICAN:FSP) last posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The business had revenue of $68.71 million during the quarter, compared to analyst estimates of $66.44 million.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Friday, October 19th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.36 annualized dividend and a yield of 4.68%.
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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