Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 2,363,768 shares, a decline of 4.7% from the April 15th total of 2,480,718 shares. Based on an average daily volume of 411,615 shares, the days-to-cover ratio is presently 5.7 days. Approximately 2.3% of the shares of the stock are sold short.
Institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Franklin Street Properties in the 4th quarter worth about $41,000. Federated Investors Inc. PA bought a new position in Franklin Street Properties during the 1st quarter valued at about $43,000. Nisa Investment Advisors LLC grew its holdings in Franklin Street Properties by 334.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,510 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 5,010 shares during the last quarter. JNBA Financial Advisors bought a new position in Franklin Street Properties during the 4th quarter valued at about $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Franklin Street Properties during the 4th quarter valued at about $77,000.
Several brokerages have commented on FSP. Zacks Investment Research upgraded shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $8.00 price target on shares of Franklin Street Properties in a research note on Tuesday, February 12th. Finally, TheStreet cut shares of Franklin Street Properties from a “c” rating to a “d+” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $8.50.
Franklin Street Properties (NYSEAMERICAN:FSP) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.21). The firm had revenue of $64.72 million for the quarter, compared to analysts’ expectations of $62.50 million.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 19th were issued a $0.09 dividend. The ex-dividend date was Wednesday, April 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.79%.
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Franklin Street Properties Company Profile
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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