The Manufacturers Life Insurance Company cut its holdings in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,241 shares of the real estate investment trust’s stock after selling 3,983 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Franklin Street Properties worth $328,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Franklin Street Properties by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,166,514 shares of the real estate investment trust’s stock worth $9,467,000 after buying an additional 62,010 shares during the last quarter. Rhumbline Advisers raised its stake in Franklin Street Properties by 11.5% during the 4th quarter. Rhumbline Advisers now owns 364,075 shares of the real estate investment trust’s stock valued at $1,591,000 after purchasing an additional 37,694 shares during the last quarter. Norges Bank acquired a new position in Franklin Street Properties during the 4th quarter valued at $4,909,000. BlackRock Inc. raised its stake in Franklin Street Properties by 2.9% during the 4th quarter. BlackRock Inc. now owns 18,207,039 shares of the real estate investment trust’s stock valued at $79,564,000 after purchasing an additional 518,671 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Franklin Street Properties by 34.7% during the 4th quarter. JPMorgan Chase & Co. now owns 747,355 shares of the real estate investment trust’s stock valued at $3,266,000 after purchasing an additional 192,643 shares during the last quarter. Hedge funds and other institutional investors own 84.01% of the company’s stock.
Separately, TheStreet upgraded shares of Franklin Street Properties from a “d+” rating to a “c” rating in a research note on Wednesday, February 17th.
Franklin Street Properties (NYSEAMERICAN:FSP) last released its earnings results on Tuesday, May 4th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Franklin Street Properties had a net margin of 11.26% and a return on equity of 3.62%. As a group, analysts expect that Franklin Street Properties Corp. will post 0.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 7th. Shareholders of record on Friday, April 16th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, April 15th. This represents a $0.36 dividend on an annualized basis and a yield of 6.43%. Franklin Street Properties’s payout ratio is presently 48.65%.
About Franklin Street Properties
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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