The Manufacturers Life Insurance Company Makes New Investment in Franklin Street Properties Corp. (NYSE:FSP)

The Manufacturers Life Insurance Company bought a new position in shares of Franklin Street Properties Corp. (NYSE:FSP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,255 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cannon Global Investment Management LLC purchased a new position in Franklin Street Properties during the 1st quarter worth $25,000. Point72 DIFC Ltd purchased a new position in Franklin Street Properties during the second quarter worth about $34,000. Fifth Lane Capital LP purchased a new stake in Franklin Street Properties in the 1st quarter valued at approximately $56,000. Bfsg LLC increased its position in Franklin Street Properties by 16.2% during the 2nd quarter. Bfsg LLC now owns 63,410 shares of the company’s stock worth $97,000 after purchasing an additional 8,860 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Franklin Street Properties during the 1st quarter worth approximately $147,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th.

Franklin Street Properties Price Performance

Shares of NYSE FSP opened at $1.74 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 2.79. Franklin Street Properties Corp. has a one year low of $1.47 and a one year high of $2.72. The firm has a market capitalization of $179.45 million, a P/E ratio of -3.10 and a beta of 0.81. The company’s fifty day moving average is $1.68 and its two-hundred day moving average is $1.75.

Franklin Street Properties (NYSE:FSP) last issued its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. The company had revenue of $30.83 million for the quarter. Analysts forecast that Franklin Street Properties Corp. will post 0.13 EPS for the current fiscal year.

Franklin Street Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Friday, October 18th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, October 18th. This represents a $0.04 annualized dividend and a yield of 2.31%. Franklin Street Properties’s dividend payout ratio is presently -7.14%.

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.