Franklin Street Properties (NYSE:FSP) Shares Down 2.3% – Should You Sell?

Franklin Street Properties Corp. (NYSE:FSP) shares traded down 2.3% during mid-day trading on Monday. The company traded as low as $0.34 and last traded at $0.3421. Approximately 355,463 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 569,637 shares. The stock had previously closed at $0.35.

Franklin Street Properties Trading Down 2.3%

The company’s 50-day moving average is $0.41 and its 200-day moving average is $0.52. The stock has a market capitalization of $35.58 million, a price-to-earnings ratio of -0.68 and a beta of 0.85. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. raised its position in Franklin Street Properties by 1.1% in the second quarter. Private Management Group Inc. now owns 10,161,175 shares of the company’s stock valued at $5,233,000 after purchasing an additional 107,557 shares during the period. Bank of America Corp DE purchased a new position in shares of Franklin Street Properties during the 2nd quarter worth $2,466,000. Renaissance Technologies LLC grew its holdings in shares of Franklin Street Properties by 21.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,692,603 shares of the company’s stock worth $1,125,000 after purchasing an additional 304,177 shares during the period. BlackRock Inc. purchased a new position in shares of Franklin Street Properties during the 2nd quarter worth $716,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Franklin Street Properties during the 2nd quarter worth about $257,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Street Properties Company Profile

Franklin Street Properties Corp. is a self-administered real estate investment trust (REIT) that owns, operates and manages commercial real estate in the United States. The company has historically focused primarily on office properties, including buildings serving corporate, professional services and other business tenants.

Franklin Street Properties has pursued a strategy of acquiring and managing office assets in selected U.S. markets, with activities that may include leasing, property management, asset repositioning and the disposition of properties that no longer fit its investment objectives.