Charles Schwab Investment Management Inc. Reduces Position in Franklin Street Properties Corp. (NYSE:FSP)

Charles Schwab Investment Management Inc. cut its holdings in shares of Franklin Street Properties Corp. (NYSE:FSP) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 707,326 shares of the company’s stock after selling 55,984 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Franklin Street Properties worth $1,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Franklin Street Properties during the second quarter worth $34,000. SG Americas Securities LLC increased its stake in shares of Franklin Street Properties by 92.1% during the third quarter. SG Americas Securities LLC now owns 32,846 shares of the company’s stock worth $58,000 after acquiring an additional 15,750 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Franklin Street Properties during the second quarter worth about $66,000. Algert Global LLC raised its stake in shares of Franklin Street Properties by 123.1% during the 2nd quarter. Algert Global LLC now owns 60,225 shares of the company’s stock worth $92,000 after buying an additional 33,233 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in Franklin Street Properties by 16.2% in the second quarter. Bfsg LLC now owns 63,410 shares of the company’s stock valued at $97,000 after acquiring an additional 8,860 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

Franklin Street Properties Stock Performance

FSP opened at $2.08 on Wednesday. Franklin Street Properties Corp. has a 1-year low of $1.47 and a 1-year high of $2.72. The stock has a market cap of $215.42 million, a P/E ratio of -5.33 and a beta of 0.82. The stock’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $1.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Franklin Street Properties (NYSE:FSP) last posted its earnings results on Tuesday, October 29th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The firm had revenue of $29.68 million during the quarter. Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. During the same quarter last year, the business earned ($0.44) earnings per share. As a group, equities analysts anticipate that Franklin Street Properties Corp. will post 0.14 EPS for the current fiscal year.

Franklin Street Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Friday, October 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, October 18th. Franklin Street Properties’s payout ratio is currently -10.26%.

Insider Buying and Selling at Franklin Street Properties

In related news, Director Bruce J. Schanzer acquired 110,589 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $1.87 per share, with a total value of $206,801.43. Following the completion of the purchase, the director now directly owns 3,405,463 shares in the company, valued at approximately $6,368,215.81. The trade was a 3.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey B. Carter bought 18,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $2.12 per share, with a total value of $39,220.00. Following the purchase, the insider now directly owns 18,500 shares in the company, valued at $39,220. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 172,400 shares of company stock valued at $327,879 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

Franklin Street Properties Company 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.