Franklin Street Properties Corp. (NYSE:FSP) Shares Acquired by State Street Corp

State Street Corp grew its holdings in Franklin Street Properties Corp. (NYSE:FSP) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,205,604 shares of the company’s stock after acquiring an additional 20,987 shares during the period. State Street Corp owned about 1.16% of Franklin Street Properties worth $2,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FSP. BNP Paribas Financial Markets lifted its holdings in Franklin Street Properties by 33.4% in the third quarter. BNP Paribas Financial Markets now owns 21,718 shares of the company’s stock valued at $38,000 after acquiring an additional 5,433 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Franklin Street Properties during the 2nd quarter valued at approximately $34,000. SG Americas Securities LLC lifted its stake in shares of Franklin Street Properties by 92.1% in the 3rd quarter. SG Americas Securities LLC now owns 32,846 shares of the company’s stock valued at $58,000 after purchasing an additional 15,750 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Franklin Street Properties during the second quarter worth $66,000. Finally, Algert Global LLC grew its position in Franklin Street Properties by 123.1% during the second quarter. Algert Global LLC now owns 60,225 shares of the company’s stock valued at $92,000 after buying an additional 33,233 shares during the period. Institutional investors and hedge funds own 61.41% 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 research report on Monday, October 28th.

Franklin Street Properties Stock Performance

NYSE FSP opened at $1.83 on Thursday. The stock has a market capitalization of $189.53 million, a price-to-earnings ratio of -4.69 and a beta of 0.82. The stock has a 50-day moving average of $1.88 and a 200 day moving average of $1.73. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Franklin Street Properties Corp. has a twelve month low of $1.47 and a twelve month high of $2.72.

Franklin Street Properties (NYSE:FSP) last announced 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 business had revenue of $29.68 million for the quarter. Franklin Street Properties had a negative return on equity of 5.88% and a negative net margin of 32.11%. During the same period last year, the firm posted ($0.44) earnings per share. Sell-side analysts anticipate that Franklin Street Properties Corp. will post 0.14 EPS for the current fiscal year.

Franklin Street Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Friday, October 18th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, October 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.19%. Franklin Street Properties’s payout ratio is currently -10.26%.

Insider Activity

In related news, Director Bruce J. Schanzer bought 43,311 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $1.89 per share, for a total transaction of $81,857.79. Following the acquisition, the director now directly owns 3,489,374 shares in the company, valued at approximately $6,594,916.86. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey B. Carter purchased 18,500 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $2.12 per share, with a total value of $39,220.00. Following the completion of the transaction, the insider now directly owns 18,500 shares of the company’s stock, valued at approximately $39,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 172,400 shares of company stock worth $327,879 over the last quarter. 6.20% of the stock is currently owned by corporate insiders.

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.