JPMorgan Chase & Co. Purchases 114,161 Shares of Franklin Street Properties Corp. (NYSE:FSP)

JPMorgan Chase & Co. lifted its stake in Franklin Street Properties Corp. (NYSE:FSP) by 97.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 231,681 shares of the company’s stock after acquiring an additional 114,161 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Franklin Street Properties worth $410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Franklin Street Properties during the 3rd quarter valued at $43,000. Barclays PLC grew its holdings in shares of Franklin Street Properties by 277.4% during the third quarter. Barclays PLC now owns 128,258 shares of the company’s stock worth $227,000 after purchasing an additional 94,274 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Franklin Street Properties in the third quarter valued at about $39,000. State Street Corp raised its position in shares of Franklin Street Properties by 1.8% in the 3rd quarter. State Street Corp now owns 1,205,604 shares of the company’s stock worth $2,134,000 after acquiring an additional 20,987 shares in the last quarter. Finally, RBF Capital LLC acquired a new position in shares of Franklin Street Properties during the third quarter valued at about $1,795,000. Institutional investors own 61.41% of the company’s stock.

Franklin Street Properties Price Performance

Franklin Street Properties stock opened at $1.78 on Thursday. The company’s 50 day moving average price is $1.87 and its two-hundred day moving average price is $1.77. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Franklin Street Properties Corp. has a 52 week low of $1.47 and a 52 week high of $2.52. The stock has a market cap of $184.35 million, a P/E ratio of -4.56 and a beta of 0.82.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings data 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 for 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 period last year, the business posted ($0.44) earnings per share. On average, equities analysts predict that Franklin Street Properties Corp. will post 0.14 earnings per share for the current year.

Franklin Street Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Friday, January 24th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.04 dividend on an annualized basis and a yield of 2.25%. Franklin Street Properties’s dividend payout ratio is -10.26%.

Insider Activity at Franklin Street Properties

In other news, insider Jeffrey B. Carter acquired 18,500 shares of Franklin Street Properties stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $2.12 per share, for a total transaction of $39,220.00. Following the transaction, the insider now owns 18,500 shares of the company’s stock, valued at $39,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce J. Schanzer bought 110,589 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $1.87 per share, for a total transaction of $206,801.43. Following the transaction, the director now owns 3,405,463 shares in the company, valued at $6,368,215.81. This trade represents a 3.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 172,400 shares of company stock worth $327,879. 6.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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.