Franklin Street Properties Corp. (FSP) Short Interest Down 11.6% in October

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,274,425 shares, a drop of 11.6% from the October 13th total of 1,440,987 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 409,140 shares, the days-to-cover ratio is currently 3.1 days.

A number of research analysts have recently weighed in on the company. BidaskClub upgraded Franklin Street Properties Corp. from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded Franklin Street Properties Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, November 6th. B. Riley restated a “buy” rating on shares of Franklin Street Properties Corp. in a research report on Thursday, November 2nd. ValuEngine upgraded Franklin Street Properties Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $10.00 price objective on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Franklin Street Properties Corp. presently has a consensus rating of “Buy” and a consensus price target of $11.75.

In other news, Director Brian N. Hansen acquired 12,500 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $9.96 per share, for a total transaction of $124,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth A. Hoxsie acquired 3,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $9.81 per share, with a total value of $29,430.00. Following the transaction, the director now owns 48,000 shares of the company’s stock, valued at $470,880. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 125,045 shares of company stock worth $1,236,480.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Franklin Street Properties Corp. by 1.1% in the second quarter. BlackRock Inc. now owns 15,273,919 shares of the real estate investment trust’s stock worth $169,236,000 after acquiring an additional 168,927 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Franklin Street Properties Corp. by 2.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,152,990 shares of the real estate investment trust’s stock worth $86,585,000 after acquiring an additional 169,590 shares in the last quarter. State Street Corp grew its position in Franklin Street Properties Corp. by 3.0% in the second quarter. State Street Corp now owns 4,111,492 shares of the real estate investment trust’s stock worth $45,554,000 after acquiring an additional 119,953 shares in the last quarter. Northern Trust Corp grew its position in Franklin Street Properties Corp. by 3.7% in the second quarter. Northern Trust Corp now owns 3,498,172 shares of the real estate investment trust’s stock worth $38,760,000 after acquiring an additional 125,074 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Franklin Street Properties Corp. by 18.2% during the third quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock valued at $22,887,000 after buying an additional 331,950 shares during the period.

Franklin Street Properties Corp. (NYSEAMERICAN FSP) opened at $10.42 on Thursday. Franklin Street Properties Corp. has a 12-month low of $9.59 and a 12-month high of $13.27.

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $67.30 million during the quarter, compared to analyst estimates of $66.31 million. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, October 20th were given a $0.19 dividend. The ex-dividend date was Thursday, October 19th. This represents a $0.76 annualized dividend and a yield of 7.29%. Franklin Street Properties Corp.’s dividend payout ratio is currently -844.44%.

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About Franklin Street Properties Corp.

Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.

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