Paloma Partners Management Co Decreases Stake in Franklin Street Properties Corp. (NYSEAMERICAN:FSP)
Paloma Partners Management Co lowered its position in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 75.2% in the 4th quarter, HoldingsChannel reports. The fund owned 10,905 shares of the real estate investment trust’s stock after selling 33,014 shares during the period. Paloma Partners Management Co’s holdings in Franklin Street Properties were worth $48,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Weld Capital Management LLC purchased a new stake in Franklin Street Properties in the 3rd quarter worth about $46,000. Magnus Financial Group LLC purchased a new stake in Franklin Street Properties in the 4th quarter worth about $49,000. GSA Capital Partners LLP purchased a new stake in Franklin Street Properties in the 4th quarter worth about $57,000. Jupiter Asset Management Ltd. increased its holdings in Franklin Street Properties by 27.5% in the 4th quarter. Jupiter Asset Management Ltd. now owns 13,226 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 2,852 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in Franklin Street Properties in the 4th quarter worth about $67,000. 78.57% of the stock is owned by institutional investors.
Several brokerages recently weighed in on FSP. TheStreet raised Franklin Street Properties from a “d+” rating to a “c” rating in a report on Wednesday, February 17th. Zacks Investment Research lowered Franklin Street Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.31.
FSP stock opened at $5.61 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $602.11 million, a PE ratio of -280.50 and a beta of 0.98. Franklin Street Properties Corp. has a twelve month low of $3.34 and a twelve month high of $6.78. The stock has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.37.
Franklin Street Properties (NYSEAMERICAN:FSP) last issued its quarterly earnings data on Monday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.09. Franklin Street Properties had a negative return on equity of 0.16% and a negative net margin of 0.46%. On average, equities research analysts anticipate that Franklin Street Properties Corp. will post 0.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 16th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Thursday, April 15th. Franklin Street Properties’s payout ratio is 39.56%.
Franklin Street Properties Profile
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.
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